Demand on EURUSD had very successful the last five sessions. The resistance at 1.1180 was finally broken today and the price is at the highest level since 24 June. Due to this, I will look at the chart in search of the nearest resistances.
Next important resistance is 100 pips above from current position at 1.1290 – 1.1320. At that area upper limit of bearish regression channel coincides with resistance. Long positions should be still profitable. There will be two possible scenarios at this level:
1) EURUSD will crash through resistance and then next goals for demand are located at: 1.1460 and 1.1610 level
2) EURUSD will rebound and then the nearest support will be located at 1.0960 level
