The EUR/USD on the 4-hour time frame has been following an uptrend recently. The pair broke above the 1.1400 level on 20 March and registered the highest level of period under study at 1.14477. The recent jump in the price came after Federal Reserve left interest rate unchanged. Fed also projected no interest rate hike in 2019. The price jumped from 1.13471 to 1.14477 on the 4-hour chart on 20 March, price above the 200-period moving average and RSI above 50 supports the bullish move in the EUR/USD.
The 4-Hour chart of the EUR/USD confirms the positive sentiment in the price movement as the pair is making successively higher tops and higher bottoms.
All three indicators confirm the positive bias in the market. As the chart shows, price is well above the 200-period Moving Average. The MACD (Moving Average Convergence/Divergence) is recording values above the zero-line which shows positive sentiment in the EUR/USD. RSI (Relative Strength Index) showing values above 50 which supports the bullish sentiment in the market. Bulls are in full control of the market as the price is above the 1.1400 level.
In alternative scenario, key support level lies at 1.13471, bears need to break this level in order to regain bearish momentum.
The 4-Hour chart of the EUR/USD confirms the positive sentiment in the price movement as the pair is making successively higher tops and higher bottoms.
All three indicators confirm the positive bias in the market. As the chart shows, price is well above the 200-period Moving Average. The MACD (Moving Average Convergence/Divergence) is recording values above the zero-line which shows positive sentiment in the EUR/USD. RSI (Relative Strength Index) showing values above 50 which supports the bullish sentiment in the market. Bulls are in full control of the market as the price is above the 1.1400 level.
In alternative scenario, key support level lies at 1.13471, bears need to break this level in order to regain bearish momentum.