Bulls do not look tired yet!
Due to the currently released news, EUR has been empowered against USD. On the chart, The price line is ascending within a channel. The channel is still valid as it has not been broken to either side by the price line. The overall look of the chart is still ascending and bulls are in power.
Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The support rests at 1.17680 with resistance at 1.18100 which both lines are above the weekly pivot point at 1.17010. 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 falling towards level 50, the Stochastic is showing upward momentum and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
The bullish pressure still remains. Buyers can be expecting 1.20000.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.