As you see in the 4H chart, price is bouncing on the ascending trend line and is making higher lows.
On the other hand, price hasn’t made a higher high yet, and currently, it is approaching to the last major high which is also a resistance level too.
If price breaks the yellow resistance level and closes a bullish candle above it, I expect a rise on EURUSD around 1.1480
Otherwise, if price can’t break the resistance and gets rejected, it will drop to retest the trend line and in the case of a downside breakout on the trend line, it may drop towards the last low at 1.1280
On the other hand, price hasn’t made a higher high yet, and currently, it is approaching to the last major high which is also a resistance level too.
If price breaks the yellow resistance level and closes a bullish candle above it, I expect a rise on EURUSD around 1.1480
Otherwise, if price can’t break the resistance and gets rejected, it will drop to retest the trend line and in the case of a downside breakout on the trend line, it may drop towards the last low at 1.1280
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