New impulsive highs could be in store for the day ahead

The momentum from Wednesday’s Federal Reserve meeting is continuing to push EUR/USD higher. Below is a snapshot of the price action in recent hours. It shows market structure and price trajectory.

Chart EUR/USD 15-min

A 15-minute view shows that the price is approaching resistance, which could force the bulls to back off. However, if the bulls make a commitment at the resistance that would normally act as support, there are chances of r rising in the next hour.