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EUR/USD Ready to Rally

EUR/USD is currently consolidating between the two upward sloping trend lines. Most likely, the pair is going to rally by breaking the resistance trend line.  However, a reversal could also occur in which the pair may break the support trend line and fall. 

In my opinion, the pair currently seems bullish as it is trading far above the both 50 DMA and 100 DMA. Also in the stochastic oscillator the pair is currently trading between the 50-80 zone which gives the confirmation signal of the upward rally.