EUR/USD: bulls going to close today's gap
The market opened with a “Breakaway Gap”, but the price reached a resistance at 1.1045 afterwards. Also, there’s a local “Thorn”, so bulls are likely going to achieve the next resistance at 1.1097 – 1.1130. If a pullback from this area happens, bears will probably try to move on and catch a support at 1.0939 – 1.0911.
As we can see on the one-hour chart, there’s a “V-Bottom”, which led to the current local rise. The main intraday target is a resistance area between the levels 1.1097 – 1.1130. Considering a possible pullback from this area, the price will likely go lower in the short term.