EURUSD: Ascending Trend Line

As you see in the 4H chart, price is bouncing on the ascending trend line and is making higher lows.

On the other hand, price hasn’t made a higher high yet, and currently, it is approaching to the last major high which is also a resistance level too.

If price breaks the yellow resistance level and closes a bullish candle above it, I expect a rise on EURUSD around 1.1480

Otherwise, if price can’t break the resistance and gets rejected, it will drop to retest the trend line and in the case of a downside breakout on the trend line, it may drop towards the last low at 1.1280