EURUSD Potential Forecast
Fundamental Backdrop
Overall, EURUSD continues to be a bullish case on the larger timeframe. There are good reasons to believe in a bull case due to the interest rate differential between EUR and USD.
Technical Confluences
1. Price is currently hovering around the previous swing high and bullish momentum has reduced to consolidation in price. Support marked out at 1.0755 where price could potentially retrace to.
2. On the daily timeframe of EURUSD, bullish pressure is waning and a deep retracement on EURUSD could be due soon.
Idea
Price can continue bullish to tap into the weekly high at 1.10922. #OPINIONLEADER#
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