By: Doug Rosen
EUR/USD pair is currently crunched in between support and resistance, on the daily chart price is just above the 21ema and below the 55 ema and we are still rising from the fib zone between 38.2 and 50.0 we bounced off of a few days ago at 1.3607 which should hopefully to 1.4550 unless a reverse fib stands in the way.
Moving on to the 4 hour timeframe we have already has an ema crossover of the 5 crossing above the 13 ema, however, the 55 ema is just above so expect a little resistance at around 1.3845.
Switching over to the hourly timeframe price is trying to ride the 5 ema to the upside, however, the 233 and 144 are just above price so a bit of friction exists around 1.3835 and the weekly S1 awaits at 1.3886.
The upper Bollinger band is beginning to point up and the ema's are beginning to build angle and separation from one another so I feel price will continue to rise today.
Finally, ontot he 15 minute timeframe we have already has a bullish ema crossover of the 5 crossing above the 13 and the upper Bollinger band is also opening to the upside I feel confident this pair will continue to rise. The next area of resistance I see is the daily M3 pivot point at 1.3833 which happens to be a reversal pivot point so expect some type of pullback in that area which should offer a bullish entry opportunity off of support.