All resistance levels are broken
USD is under pressure due to social and economic crisis. Yesterday there were no important economic reports in Eurozone. On the price chart the price is ascending strongly and different indicators are issuing buy signal. The overall look of the chart is bullish and no trend reversal signal has been issued.
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The support rests at 1.15420 with resistance at 1.15990 which both lines are above the weekly pivot point at 1.13910. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
EUR bulls are pushing the price towards the upper Bollinger band at 1.16250.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.