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EUR/USD attempting to break higher once more
EUR/USD is rallying once more, set within a downtrend which has lasted all of two days. Crucially, since we broke through the $1.1162 resistance level, the wider perspective points towards further upside for the short-term, yet a wider bearish outlook.
As such, while we are looking for another leg higher soon, we have not seen a sign to show that this move is happening quite yet. With that in mind, a bullish outlook comes back into play with either a break above $1.1182 or upon retracing down to the $1.1099 level.
Ultimately, we would need to see price break below $1.1071 to negate this bullish view.