EURUSD remains in extended sideways mode and looking for direction signal after several attempts on both sides failed.
Conflicting daily indicators (MA’s in mixed setup / rising negative momentum / north-heading RSI) contribute to directionless action, though the picture remains bullishly aligned as thick weekly Ichimoku cloud continues to underpin, and weekly studies are positive.
Immediate downside risk is expected to be limited while the price action stays above pivotal supports at 1.0910/1.0875 (weekly cloud top / Fibo 38.2% of 1.0448/1.1139 / range floor) but sustained break above upper pivots at 1.0978 / 1.1000 (10DMA / psychological / range top) will be required to bring bulls fully in play and signal an end of corrective phase from 1.1139 (Dec 28 peak).
Res: 1.0978; 1.1000; 1.1045; 1.1084.
Sup: 1.0910; 1.0875; 1.0845; 1.0821.
