Price has moved above the cloud indicating upward movement. DMI and RSI both support upward movement. If Tenkan-sen line crosses the cloud and ADX line of DMI moves above 20 points it will further confirm upward movement and price should continue up to 49 EUR level - last resistance zone. If it breaks 49 and 50 level, next resistance level is at 61 EUR.
Note
RSI above 70 points indicates overbuy and can lead to some sell off soon to stabilize. However Tenkan-sen has moved above the cloud and DMI ADX is still strong. Trend should stay bullish and we should approach 49 EUR resistance level.
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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.