Technical Analysis – EURUSD rallies above 4-month-old downtrend line
EURUSD finally managed to rally above the four-month descending trendline and stretch towards a three-week high of 1.1033 on Thursday. On the four-hour chart, the short-term oscillators are all pointing upwards, suggesting that the bullish forces could stay intact. Despite that, traders should treat the upside correction carefully as the RSI and the Stochastics approach overbought territory […]