Euro keeps rising - Technical Analysis - 28-12-2015

EUR/USD kept rising in its intra-day levels trading, with the overall dominance of the upward trend in the short term along the trend line as shown in the attached chart, and with the continuing positive pressure from the simple moving average for the period 50; testing thereafter the resistance of 1.0980, along with an influx of positive signals from relative power indicators.

 

We therefore expect more gains for the pair, especially in case of it breaching the resistance of 1.0980, targeting thereafter the crucial resistance of 1.1059.