EURUSD is pulling back as expected from our latest posts. Price remains above key support and trend remains bullish as long as price remains above 1.12-1.1250.

Red lines - bullish wedge

Green rectangle - support area

EURUSD is pulling back towards the green support area and the upward wedge boundary. So far this could be considered a normal and wanted pull back for the bullish momentum to gather more power for the next leg higher. Bulls expect price to enter the green area and even touch the upper wedge boundary and after that bounce strongly higher. If price breaks below 1.12 and stays below 1.1250, bears will be taking over the short-term trend.