The price looks to be forming an ascending bullish channel
Lower Dollar Index is supporting EUR. On the chart, the chart is forming higher lows, a strong dynamic support zone is pumping the price up and the overall look of the chart is bullish; on the other hand no indicator is giving any buying signal. The next move of the market seems hard to predict. in the following. there is a brief analyze of the price.
Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The support rests at 1.09300 with resistance at 1.09970 which both lines are above the weekly pivot point at 1.08860. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and above the EMA of 100. The RSI is moving above 50 level, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
While considering pullbacks, EURUSD is growing towards 1.10000.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.