EURUSD pair broke sharply to the upside last week which has been technically expected after a completed triangle at 1.0810 area where we spotted end of a wave E in B). As such, current leg up is a new impulse, ideally wave C) of (C) which may face limited upside soon. Keep in mind that whole rally since December is still a three wave move, thus a correction that represents big wave C-circled within ongoing triangle formation shown on daily chart. We suspect that price can turn down from 1.1270-1.1330 resistance area. An impulse down back to 1.1000 will put highs in place.
EURUSD, 4H
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