Up Trend For EUR/USD For Now
The first image is of the day chart. There appears to be resistance at the 1.25 price line. The RSI line is above the 50 line showing that it is still an up trend. This week or early next week it should hit the 1.25 line and decline possibly back down to the 1.235 price. Currently with the new pointing to interest rates going up in March I expect the 1.25 resistance to be broken around the same time.
The hour chart bounce off of the 50 EMA line and appears to be consolidating the 50 RSI. Overall I think this is an uptrending market and looking to get in on the long side the next 50 EMA test. Then possible short at the 1.25 price.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.