Strong rejection from the bottom trend line again
When you are looking at the 4 hr time frame you can see a hammer with a nice long wick rejecting the trend line, which goes for the same for the daily time frame.
A consolidation period might happen on Monday and than the bulls will come through and bring the price to a new high as you can see on the daily time frame it continuously has made higher highs.
Bare in mind watching the economic calendar. There is high impact news coming in on Thursday where the European central bank will be discussing the monetary policy, the main refinancing rate and a press conference. Most of them will have a longer term impact on the euro, however I am expecting the EUR/USD continuously making higher highs and breaking through the 4 month long resistance
A consolidation period might happen on Monday and than the bulls will come through and bring the price to a new high as you can see on the daily time frame it continuously has made higher highs.
Bare in mind watching the economic calendar. There is high impact news coming in on Thursday where the European central bank will be discussing the monetary policy, the main refinancing rate and a press conference. Most of them will have a longer term impact on the euro, however I am expecting the EUR/USD continuously making higher highs and breaking through the 4 month long resistance
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