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EURUSD : Surging Ahead of Factory Orders Data

(EURUSD : 4 Hour Chart)

EURUSD is surging ahead of the release of Factory Order data. Earlier the pair was experiencing resistance from the 50 day SMA which it broke today. The pair is also seems like experiencing resistance from the falling resistance trend line so we can expect the pair to pause its gains. Breaking this resistance trend line the pair might find the next resistance at 1.3668 or 100 day SMA. So in other words the pair won’t be able to hold these gains for long term as still there is no sign of bullish trend on the pair.