The area of 1,0775 on EUR/USD has been an important support in recent weeks, around which several turning points have already appeared. You can see here mainly the reactions of buyers. A week ago, sellers tried to threaten this zone again, but eventually ended only with a violation of the bottom shadow of the day candle. Bulish engulfing pattern also appeared here. What’s more, if we look at the fluctuations from recent weeks, we can see the idea of a zig-zag correction that takes the form of a descending wedge. Its positioning still above 1,0775 may therefore prove to be a good starting point for the appearance of another upward wave, with the target towards 1,1240.