After getting in oversold area and finding support at the ascending trendline we had a few days with undecision candles. The pair has finally broken out to the upside. It has a lot of room to run and no real resistance until the 1.798 area. We will see how it reacts to that area, if broken we will be facing MA50 and MA200 before the next horizontal resistance at 1.818 area.
Lets look at the 4H chart:
We can clearly see how the pair broke out of the indecision area that did come right at the historical trendline and support area. Now the price is above MA50 in 4H chart, providing some support. This fact with the strength gained by RSI will make the pair jump higher (or not).
Trade safe!!
Lets look at the 4H chart:
Trade safe!!