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EURUSD : Signaling a Bullish Trend

(EURUSD : 4 Hour Chart)

EURUSD seems like following a bullish trend on the 4 hour chart. A rising support trend line is providing support to the pair and 1.3637 is acting as resistance for the pair. 50 day SMA has crossed above the 100 day SMA signaling a bullish trend and is now contracting towards the 200 day SMA showing that the pair will continue to follow the uptrend. The pair tried to break below the rising support trend line but found support from the 100 day SMA and again rose. Disappointing US data continued to weigh on US dollar and upbeat German inflation data is supporting the demand for EUR. 

 Today the data showed that German Consumer Price Inflation rose .3% this month better than the expected .2% gain. Now as market is eyeing on Consumer Sentiment data the pair seems like consolidating within an ascending triangle. According to the triangle the pair should continue to follow uptrend by breaking the resistance at 1.3637.