Today we’re analyzing the technical chart of EURUSD currency pair with Doda-Donchian, Doda-Bollinger Band and Japanese Ichimoku indicator.
The time frame taken is H4.
As mentioned in last week article, EURUSD was in uptrend. The same uptrend continued this week.
Our technical indicator Doda-Donchian gave BUY signal on 26-June-2014 @1.3626. The same was confirmed by Doda-Bollinger Bands. Price was trading above Kump of Ichimoku and weekly pivot point. All the factors were forcing EURUSD to start fresh uptrend, which it is doing.
Now, what’s next?
1.3621 is the weekly pivot point of EURUSD. That means, as long as it is trading above 1.3621, take only BUY calls. No short calls, whatever technical indicator says so.
On upside, resistance are at:
1.3699 and 1.3749
It may take some support near 1.3677 before starting another uptrend. Don’t miss that opportunity and buy this currency pair for trading.
Make a stop loss of 1.3621. Closing below this level is clear cut finish of uptrend.