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aroseborn

EURUSD - Still Bullish?

Euro / U.S. Dollar (FX:EURUSD)  
aroseborn  
FX:EURUSD   Euro / U.S. Dollar
USD (US Dollar) Bullish Patterns Relative Strength Index (RSI) trend Triangle ascending
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usd-us-dollar bullish relativestrengthindex trend triangle ascending
As seen in the daily chart, EURUSD has been bullish in spite of recent favourable USD news. Will EURUSD break the 1.39000 and keep the uptrend, or bounce off of it and return towards 1.38000? I think the bullish trend will not stop and at end of this month close even higher than at the beginning. For now, I would see a bounce off the major resistance line "1", heading downwards for another test and also completion of the ascending triangle formation and then heading upwards towards even higher highs. The current trend is not that strong for an immediate breakout on the upside, with the RSI showing a possible slowdown of the bulls.

Hourly Analysis:
snapshot
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