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EUR/USD awaits the next big break
EUR/USD continues to consolidate, following the move lower into the 76.4% Fibonacci retracement. Since then, we have been seeing a falling wedge in play, which is typically bullish.
This morning we are seeing the price breaking higher, as it attempts to create a new higher high following the overnight higher low. Thus, a break and hourly close above $1.1178 would be a bullish short-term view. Ultimately, we are looking at a wider bullish trend, and until the price breaks below $1.1109, there is a good chance that we will see the pair turn higher once more.
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