The price has broken the upper side of the last “Wadge” pattern, which led to the current rise. Despite of a resistance at 1.1397, the market is likely going to move on towards a resistance at 1.1412 – 1.1431. If bulls be stopped here, there’ll be a chance to see a downward correction.
As we can see on the one-hour chart, the last downtrend line has been broken. We’ve got a resistance at 1.1398, but it likely brings just a local correction. So, bulls are probably going to reach a resistance at 1.1412 – 1.1431. If a pullback from this area happens, we should keep an eye on a support at 1.1387 – 1.1367 as the next bearish target.
EUR/USD, H4
EUR/USD, H1
Origin: FX BAZOOKA
