The EUR/USD confirmed a strong closing on Friday but only a daily closing above 1,3796 tonight will confirm a s/t bottom supporting higher levels. The weekly closing was also positive forming a positive week reversal.
The indicators of the weekly chart are still negative but those of the daily one turned already above the line. We need however more confirmations. Those of the s/t ones are also positive but they went overbought showing also potential negative reversals. The move up started also forming bearish divergences in the hourly chart suggesting a possible change of tone. Possible therefore an extension of the move up toward 1,3850 where we expect decent resistance. Before moving higher we favour however a retest of the 200 hours line at 1,3727.
We stay on the sideline for a moment while waiting the European market to fully open.
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FUTURE TREND RESEARCH