Sasha Singh
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EURUSD : Trying to Revive But Still Bearish, US dollar Continue to Weigh

EURUSD : Hourly Chart

EURUSD is now trying to revive from the resistance at 1.2952 which earlier also resisted the pair in moving up on the hourly chart. There is a short term support trend line which is preventing the pair in declining below it.  On the other hand it also seems like the 100 day SMA is now preventing the pair to move up and 50 day SMA is preventing it to move down which earlier provided resistance. The pair has moved above the 50 day SMA for the first time after September 4. If it continues to find support from the rising support trend line it might break above the resistance at 1.2952 otherwise it might decline breaking the rising support trend line reversing the short term uptrend.

EURUSD : 4 Hour Chart

On the 4 hour chart also, the pair is signaling a short term uptrend. A break above the resistance at 1.2952 might open the doors for the next resistance at 1.2991. However even if the pair breaks above the current resistance of ascending triangle, it will decline from the next resistance level as all the moving averages are heading downward signaling an agreement among sellers.

Fundamentally also the pair still seems bearish as the demand for dollar continues to be supported by the expectations among investors that Fed might raise interest rates soon. US data (Unemployment Claims, Retail Sales, Consumer Sentiment) this week might also help building bullish expectations for dollar if beats the economist's expectations.