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22.03.202319:02 Forex Analysis & Reviews: EUR/USD challenging 1.0788 resistance

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The EUR/USD pair extended its growth, registering a new high of 1.0800. Now, it is trading at 1.0791 at the time of writing. The bias is bullish, so further growth is natural as the DXY remains bearish in the short term.

Later, the FOMC should be decisive. The USD is expected to register sharp movements around this high-impact event. The FOMC Press Conference could change the sentiment in the short term. More hawkish than expected speech could lift the greenback.

EUR/USD Bullish Bias Intact!

EUR/USD tested and retested the 1.0759 key evel and now it has jumped above the 1.0788 former high. The bias is bullish as long as it stays above the median line (ml) of the ascending pitchfork.

Temporary retreats or sideways movement could bring new long opportunities. Technically, as long as it stays above the median line (ml), the rate could be attracted by the upper median line (uml).

EUR/USD Forecast!

Retesting the R1 (1.0780) followed by a bullish closure above the 1.0800 former high activates an upside continuation and is seen as a bullish signal.

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