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EUR/USD Signaling Bullish Continuation, Trying to Put in a New High on the Week

Fan Yang \ April 17th, 2014

EUR/USD is tagging a key intra-week pivot at 1.3863. It has just cracked it and barely put in a new high on the week. Resistance, overbought: The 1H chart shows that as we enter the 4/17 US session, EUR/USD is at a previous support/resistance pivot, and 61.8% retracement of the 1.3905-1.3789 decline, which started last Friday. The stochastic oscillator reading in the 1H chart is above 80. Due to the resistance factors and overbought condition in the 1H chart, we can anticipate…

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