EURUSD recently reversed up with from the support area lying between the pivotal support level 1.0990 (double
bottom from November) and the lower daily Bollinger Band. The upward reversal form this support area stopped
the previous impulse waves (iii) and 3.
Given the moderately bullish sentiment affecting Euro today – EURUSD is likely to remain under the bullish
pressure and to extend the gains toward the next resistance level 1.1050 (former strong support from the start of
December).Strong support remains at 1.0990.