Guys,

Price has been climbing nicely after breaking out of a descending structure—higher lows forming, bullish momentum building. But now we’re heading straight into that 1.12779 zone, which is packed with liquidity and has acted as a major resistance before.

Looking at the fundamentals, the USD could get stronger if the Fed raises rates more due to higher inflation or job numbers. This could put pressure on the EUR, especially since the ECB has been sounding less aggressive lately.

So here’s my take:

If we tap into 1.12779 and show signs of rejection, I’ll be watching for a short setup. But if price retraces first to around 1.0900 - 1.0950, I wouldn’t mind catching a buy back up to that level.

That said, I’m leaning more towards the sell bias right now unless something shifts fundamentally.

What do you all think? Rejection incoming or will bulls break through? Let’s break it down.