EUR/USD Stops At Resistance

EUR/USD is now trading at resistance in the short-term as the pair seems to have reached the point of a turn around. The price is now 1.0805, a bit lower from yesterday's high of 1.0820. Main trend, however, still remains bullish until we can confirm that bears have taken over and reversed the trend.

Immediate resistance rests at 1.0830, which can either ignite the spark for more momentum in the bull camp or be an opportunity for bears to sell at higher levels. The 1.0830 level is seen as a double top so that gives an edge to bears.

On the long-term price is expected to fluctuate due to high volatility caused by the implementation of the policies of President Trump and the divergence between his outlook on taxes, reforms and overall economic development compared to the views of Fed's Chair Janet Yellen.

Chart: EUR/USD H4