Be ready to capture ascending signals on chart
EUR is getting more powerful against USD. EUR/USD price chart has growing for a few days. The chart has not issued any trend reversal signals. The overall look of the chart is bullish. Another sharp acsend is possible in the next few days; however at the moment opening buy trades is not suggested as there is no ascending signals issued yet.
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The support rests at 1.15750 with resistance at 1.16470 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 on the signal line in the neutral territory. The ADX is not showing any clear signals.
While considering pullbacks on the way, EURUSD is growing within the ascendant channel targeting 1.17000.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.