EUR/USD Broke Out above 1.1020

EUR/USD made a weak second attempt to break out below the support at 1.0820, which would have likely lead to the recovery of the gap, bounced off from 1.0838 and formed a pair of spinning top candlesticks at that level on the daily time-frame last week before it started moving to the upside. Today the pair finally broke out above the resistance at 1.1020 and formed a new high at 1.1088. What is more, the pair also broke out above the resistance at 1.1050, which coincides with the (MA)89 indicator on the weekly time-frame. Considering how bullish EUR/USD is as well as the second breakout it will probably continue moving to the upside towards the last high, which is at 1.1300.