EUR has been trading sideways at the price of
1.1123.I expect further upside movement and potential re-test of the 1.1194-1.1220. There is the successful rejection of the support trendline.
The successful rejection of the major trend line was the key for my bullish view. My advice is to watch for buying opportunities on the dips using intraday-frames 5/15 minutes. Tomorrow there is the CPI m/m for USD, which may produce necessary volatility for EUR.
MACD oscillator is showing decreasing downside momentum
Stochastic oscillator is showing oversold condition and fresh new bull cross, which is sign for the further upside movement.
Resistance levels are seen at the price of 1.1134 and $1.1194.
Key support level is set at the price of 1.1084
The material has been provided by InstaForex Company – www.instaforex.com
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