Euro buoyed by a positive pattern - Technical Analysis - 14-01-2016
EUR/USD rose in the intraday levels trading, which comes after the pair breached the ceiling of positive technical pattern that formed previously, the Falling Wedge pattern as shown in the attached chart, moving thereafter through the simple moving average for the last 50 hours period, which helped the pair score more gains, with the positive pressure of that moving average, and given in notice that relative power indicators have reached oversold levels.
Therefore we expect more gains to come for the pair, targeting the resistance of 1.0939.
Trend
Bullish