EURUSD: Possible Reversal?

EURUSD, Daily

In the Daily timeframe, EURUSD has formed a rising wedge pattern in a short-term bullish trend. The price reached the critical resistance and the upper Bollinger line, while a divergence was formed on the MFI. Nevertheless, the bullish sentiment is powerful.

• If the price breaks above the resistance at 1.1150, the target will be 1.1250, which is the high of 2023;

• A breakdown of the lower trendline will start EURUSD's fall to 1.1000 support;