Ahead of the important
macro events this week ,the EUR/USD pair seems to range bounded.
On the four-hour time frame the price is gravitating around the 20-day SMA, which
is keeping its bullish stance and is well above the 100-day and 200-day SMAa,
that are also strongly heading to north.
RSI is located above its mid-lines, but has lost directional strength. Stochastic is
displaying slight upward strength and is marking lower lows.
The risk to the downside remains limited until the pair holds above the 1.12
handle. But to confirm strong bullish run is needed a break through the 1.13
mark.
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