EURUSD currency pair driven up by favorable sentiment differential of the EUR and USD sentiment waves. Next resistance at 1.183, intersecting with the middle of the Bollinger Bands, traditionally used by quantitative funds to enter contrarian sell trades inside a downward impulse wave. Selected Alpha evaluates the strength of the active downward impulse at 65% level. With the freedom at 0.64 level – meaning the pair has left 0.34 ATR (Average true range) to rise today – the price can attempt to test the resistance level 1.183.
The following intraday FX sentiment waves chart shows the diverging EUR and USD sentiment waves.