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EUR/USD breaks through trendline resistance
EUR/USD has been pushing higher throughout recent days, with the price breaking above a key resistance zone between the middle Bollinger band and a descending trendline.
This could pave the way for a more bullish short-term trend, given the fact that this period of upside is coming from the critical $1.1554 support level, below which we would see a long-term downtrend (since 2008) come into play. However, we need to see the price break above the first swing high of $1.1750 to provide confirmation of a more bullish short-term view. Until then, watch for potential resistance to come into play at the upper Bollinger band.