EUR/USD pulling back within uptrend
EUR/USD has managed to break higher once more yesterday, with price moving above the 76.4% retracement convincingly. Considering the wider picture, a bearish view remains in place, yet it makes sense to await a bearish reversal sign that we have not seen yet.
Given that price is currently above the 76.4% mark, it allows us space to form a topping pattern while also obtaining a good entry. Ultimately, a bearish view is held unless we see an hourly close above 1.1418. The next important levels of support, which would need to be broken to undermine recent gains, are $1.1305 and $1.1236.