The EUR/USD has broken its downward trend line on a 4-hour time frame. The price is trading near the upper line of the Bollinger® band, which means that the volatility is picking up once again and a break of this line will confirm the increase volatility. In terms of pattern, there is no clear pattern formed at the moment. The RSI indicator on the other hand is giving a negative signal, which means that while the price is moving in a side-way pattern more recently, the RSI is confirming that the upward momentum is weakening.
The MACD indicator is trading in line with the price action, which means that while the price is moving in a side-way pattern, the MACD is moving higher.
The MACD indicator is trading in line with the price action, which means that while the price is moving in a side-way pattern, the MACD is moving higher.
Important zones
1.1681-1.160 resistance
1.1189- 1.111 support
1.1681-1.160 resistance
1.1189- 1.111 support
Disclosure & Disclaimer: The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.
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