Learn about EURUSD

The secondary trend of EURUSD is sideways on charts. In its 4 hourly chart, the pair is sustaining below its falling trend line. It is consolidating with strong positive bias and is likely to give break out at upside. Its 30 and 200 DMA are also supporting the upcoming bullish trend in the pair. It is facing an important resistance at the level of 1.1300. If it breaks its resistance level of at upside and sustains above it then we can expect it to show further upside movement.


INDICATORS:-
RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair.
MACD is also sustaining in buying territory indicating the upcoming bullish trend in the pair.
STRATEGY: EURUSD is looking bullish on charts for next few trading session. One can go for buy on dips strategy for this pair for intra day to mid term positions.

I agree with bullish sentiment myself. I am looking at buying now 1.1240 with a target of 1.1400. I generally look at shorter time frames than 4 hours but your set up looks good while we hold this uptrend support.

Here is what I am looking at for going long where I am


I’m seeing a bit of a rising wedge at the 1-hour chart myself, just in line with the top of the triangle you showed on the 4-hour chart. Bias seems to be to the upside but I’ll be waiting for more confirmation also.