EURUSD looks for clearer direction signal

EURUSD edged higher in Asia / early Europe on Thursday, hinting that pullback from Monday’s spike high (1.1009) might be over.

Signals of formation of a higher base at 1.0900 zone add to positive near-term outlook, as technical studies on daily chart are predominantly bullish., though sustained break above 1.0950/60 zone needed to confirm.

On the other hand, hourly studies are weakening, and recovery attempts may face headwinds on approach to 1.0950 pivot (hourly cloud top / 50% retracement of 1.1009/1.0892 pullback).

This would keep the downside vulnerable, especially on loss of 1.0925 pivot (hourly cloud base / hourly Kijun-sen), which would risk retest of 1.0900 and open way for deeper pullback on break.

Look for clearer direction signal.

Res: 1.0950; 1.0965; 1.0981; 1.1000
Sup: 1.0925; 1.0890; 1.0875; 1.0850