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4/1/2016 3:37:49 AM

EURUSD keeps climbing - Technical Analysis - 01-04-2016

EURUSD kept rising in the intraday levels, with the dominance of the main upward trend in the medium and short terms, while trading within an ascending price channel that limited its past short-term movements as shown in the attached chart, with ongoing positive pressure from the SMA50, as the pair settles above the pivotal support of 1.1340, while noting a negative divergence in the Stochastic indicator as shown below the attached chart, coupled with an influx of negative signals from that index, pointing to a big chance of a correctional move, therefore we expect more gains to come for the pair, targeting the important resistance of 1.1465, and staying neutral thereafter, waiting for the pair's behavior with this level, with a chance of a devaluation to correct the main upward trend.



Trend Bullish