Sasha Singh
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EURUSD : Bullish Trend Continue

EURUSD started this week with some gains reaching the previous highs at 1.3864. On the 4 hour chart, the rising trend line seems like the support for the pair. The pair after the surge tried to break the resistance at 1.3684 and went up to 1.3879 which was earlier the support for the pair. However it again came back from this resistance level. The pair now seems like following a rising channel trend with resistance trend line formed by joining the resistance points at 1.3879 and 1.3854. The pair might continue to rise failing to decline below 1.3864. Breakout above this key resistance level shows the bullish momentum.