Descend or Ascend? Wait for a signal
While Gold and Oil price are increasing, EUR is staying flat. The Next move of the price is to be revealed soon. the price chart is on a critical level, the next move depends on what the price does here. In the following, CapitalCore Ltd has managed to have a brief analyze of the chart; you can use the information below to empower your trading strategy.
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The support rests at 1.10490 with resistance at 1.10840 which both lines are above the weekly pivot point at 1.10360. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 200 and above the EMA of 100. The RSI is moving above 50 level, the Stochastic is moving in low ranges and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
While the pressure remains, the support level breakthrough will confirm the decline towards 1.10100; otherwise EURUSD will be growing slowly towards 1.11000.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.