EURUSD is looking to gradually settle back into its long term upward trend. Currently an important resistance can be seen around 1.4200 level because break of that level will trigger an extended upward move.
Currently traders will look to buy EURUSD for dips below 1.4075 level and a very decent entry level can be seen around 1.4050 level and that is also right at the bottom of the upward trend. In case EURUSD take an extended dip, then an import 1.4000 level will be targeted for trader for long term entry.
Once EURUSD breaks above 1.4200 level, the next targeted level can be seen around 1.4285 level. RSI, in daily charts, can be seen around 59 and it seems to have more than enough space to make a move towards 1.4200 level and even break it in the first go.
On the upper side, 1.4200 level is the first resistance which is followed by 1.4285 as next resistance and 1.4415 is the next resistance level. Both the medium term and long term moving averages are also indicating the buying trend of EURUSD and it also have touched the lower target for buying in weekly charts so it seems all set for a nice upward move.
Winner’s Edge Trading, as seen on: