EUR/USD getting ready to break in upward trend

EUR/USD seems all set to break in an upward trend and follow other major currencies. The traders will be mainly looking to buy it on reasonable dips. The first level for consideration to buy EUR/USD can be seen around 1.4360 level and if the market takes retracement below that level, then the next level for consideration can be seen around 1.4280 and in the latter case, the traders will be looking to average out both the positions. On the upper side 1.4435 level seems to be the first target and above that 1.4520 will be the real level all traders will be aiming at.

The moving averages are also nicely placed in daily charts and all can be seen together around 1.4300 level. Since the market is currently above all three, therefore it is indicating the upward nature of the market. Break below 1.4280 will open up downward trend but looking at other major currencies it seems that EUR/USD is also looking to break towards 1.4500 level. RSI is just below 54 in daily charts and seems to have more than enough space for it to target 1.4500 level so the overall scenario is that the traders will look to buy EUR/USD on dips.

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