EURUSD Is Recovering Sharply, Eyeing At Least 1.10 - 1.11 Area
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Euro is trading higher, it's recovering with a sharp reaction since the US CPI came lower than expected last week. We see price testing 1.0945 temporary resistance with wave 3 of an extended wave (C) or wave (3) of a new bullish sequence, which is our primary look because of a broken base channel. So euro can strengthen further, but be aware of some intraday black 4th wave pullback from the current 1.0945 resistance. Also, if the price stays in an uptrend with the current sharp rise, then a higher degree correction from the 2023 highs can be finished. A break below 1.0755 will be again bearish for the euro.
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