Sasha Singh
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EUR/USD : Will It Break The Key Support?

EURUSD following a channel uptrend on 4 hour chart. Also the 50 day SMA is acting as a support for the pair as it is not allowing the pair to fall below it. Now a question arises whether the pair will continue to follow this uptrend or will reverse the uptrend to downtrend. We can consider stochastic oscillator for signal here. The dotted red line on the stochastic oscillator which gives the signal for a change in trend is above the solid line. Now this shows the bearish trend and this bearish trend should continue until the dotted red line crosses the solid blue line on stochastic oscillator and falls below it.