The EUR/USD pair has settled above the level of 1.0700, which is a positive sign that suggests that the volume of long positions will rise.
On the four-hour chart, the RSI technical indicator is hovering in the upper area of 50/70, which points to the growth in buying volumes.
On the same chart, the Alligator’s MAs are headed upwards, which corresponds to the bullish cycle.
Outlook
In this situation, keeping the price above the level of 1.0700 by the end of the trading week may gradually push the euro towards the levels of 1.0800-1.0900. However, if the bullish momentum stops and the quote falls below the level of 1.0700, sellers will have a second chance to update the local low.
Complex indicator analysis indicates an uptrend phase in the short- and long-term timeframes.
The material has been provided by InstaForex Company – www.instaforex.com
The EUR/USD pair has settled above the level of 1.0700, which is a positive sign that suggests that the volume of long positions will rise.
On the four-hour chart, the RSI technical indicator is hovering in the upper area of 50/70, which points to the growth in buying volumes.
On the same chart, the Alligator’s MAs are headed upwards, which corresponds to the bullish cycle.
Outlook
In this situation, keeping the price above the level of 1.0700 by the end of the trading week may gradually push the euro towards the levels of 1.0800-1.0900. However, if the bullish momentum stops and the quote falls below the level of 1.0700, sellers will have a second chance to update the local low.
Complex indicator analysis indicates an uptrend phase in the short- and long-term timeframes.
The material has been provided by InstaForex Company – www.instaforex.com
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