A pinbar was formed from the support 1.1180 yesterday, that indicates the euro is being bought out at this price. To be fair the close of the bar was bearish, therefore this setup isn’t a full-value long-trigger. Nevertheless it may quite trigger a new upswing in direction of the resistance zone 1.1262 (watch the red arrow).
Local structure has the mode of intensive expansion to both sides (watch the yellow marks), therefore we can’t rule out a continuation of the same tendency. But so far let’s proceed from the scenario of probable upward movement from the support 1.1200 in direction 1.1262.
So, we expect touch of the 1.1200 mark and then growth towards 1.1262.
Longs from 1.1200 towards 1.1262.
Shorts from 1.1262.