EUR/USD almost done with upward trend

Although overall EUR/USD is moving in a sideways trend but in short term view, it seems that EUR/USD has almost approached completed the upward trend and will sooner or later take a dip. Currently traders will be looking to sell EUR/USD around some reasonable levels and one such level can be seen around 1.4280 level and if EUR/USD extended its upward trend, then it will next target 1.4450 level. If EUR/USD manages to break above 1.4450 level, then it will be an indication of start of long term upward trend but looking at the current scenario, it seems that it will take a dip from 1.4280 level and mostly traders will look to sell around that level for initial targets around 1.4060 level. Break of 1.4060 level will open up 1.3850 as next target.

Looking at the long term and medium term moving averages used in daily charts, it seems that 1.4280 level is the main key at the moment and EUR/USD is targeting to touch that level and once the target is achieved, it will take a dip. RSI is also just above 46 in daily charts so overall it seems that EUR/USD is setting for a dip towards 1.4000 level.

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