EURUSD (updated) Trade set up ~ forex market news indicator
The EURUSD weekly chart is on an uptrend a continuation of the reversal of the fall from 1.51387. The current move started from 1.18757 and is currently moving into a wedge between the upper and lower trendline. A break of the trendline will determine the next direction
The daily chart is our trading guide. The daily chart has been on the uptrend move for the past fifteen days. The daily RSI is current around 65 point mark. It is getting ready short. Historically EURUSD is capable of going up to 78.750 mark. It is therefore necessary to watch the current move for the next few days until we see the first full bear candle. As you can see there is no bear candle now. Furthermore, a break of the uptrend line on H4 will confirm when this happens.
The weekly, daily and H4 charts are attached
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