Sasha Singh
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EURUSD : Giving Bullish Signal

EURUSD is currently trading near 1 week high and consolidating ahead of the FOMC meeting minutes due for release today at 2 PM EDT. The pair is steady and didn’t lose even after weak German trade data. On the hourly chart of EURUSD we can see that the pair is consolidating within an ascending triangle with resistance at 1.3807 and support at support trend line of the triangle. This is giving bullish signal and the pair should break the resistance trend line continuing the uptrend. However better would be to wait for the news for further indication on the future direction of monetary policy as the pair might also reverse the trend by breaking the support trend line.