While EUR/USD remains within an established uptrend on the daily chart, all is not well on the highs. Twice already failed to break above 1.1100 and there were two bearish candlesticks within the double top. Prices also failed to break above the January high and are now trading below the monthly reversal point at 1.1184 at March 2022.
However, the internal bullish trend line is also supporting prices, so we do not write off the possibility of another rise. Still, given our version of a bullish USD, we suspect that EUR/USD will have to decline sooner or later as long as prices remain below 1.1100.
However, the internal bullish trend line is also supporting prices, so we do not write off the possibility of another rise. Still, given our version of a bullish USD, we suspect that EUR/USD will have to decline sooner or later as long as prices remain below 1.1100.