It should still flatten (perhaps back to 1.17/18 former resistance and turn it to a good support. Then, gear back up to 1.12 target and then way up...
EURUSD cautiously bullish; capped by 200-day SMA
EURUSD sellers are in the process of halting buyers’ efforts to push above 1.1179 – which is the fresh swing high of October 21, following a three-week ascent – to retest the 200-day SMA. The short-term has shifted into what looks like a neutral market, something also backed by the flat Tenkan-sen and Kijun-sen lines. However, the positive momentum in the technical indicators is still intact but slightly reduced. The RSI, currently in bullish territory, is sloping slightly downwards. The MACD, deep in positive regions, is above its red trigger line but has eased. To the upside, the bulls initially face pressure ... (full story)