AvaTrade - Analytics

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    EUR/USD- Broken its downward trend line

    The EUR/USD pair has broken its downward trend line on a 4 hour time frame. The price is trading near the upper line of the Bollinger band which means that the volatility is picking up once again and a break of this line will confirm the increase volatility. In terms of pattern, there is no clear pattern formed at the moment. The RSI indicator on the other hand is giving a negative signal which means that while the price is moving in a side way pattern more recently, the RSI is confirming that the upward momentum is weakening. 

    The MACD indicator is trading in line with the price action which means that while the price is moving in a side pattern, the MACD is moving higher. 

    Screen Shot 2015-02-06 at 08.48.13
    Important zones 
    1.1681-1.160 resistance 
    1.1189- 1.111 support


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