EUR/USD: Market Indecision And Signs of Upward Momentum
The EUR/USD is trading sideways around 1.0650 and showing signs of transitioning to an upward trend. This change is supported by the easing tensions between Israel and Iran, which have led to a reduction in geopolitical risks and decreased demand for the US dollar as a safe-haven asset, consequently causing a slight increase in the EUR/USD pair.
Looking at the 4-hour chart, we observe the Relative Strength Index (RSI) moving sideways near the 50 level, and the EUR/USD positioned between the Simple Moving Averages (SMAs) of 20 and 50. This reflects the market's indecisiveness regarding this currency pair. However, the price remains above the SMAs, indicating the potential continuation of the upward trend in the near future.
Looking at the 4-hour chart, we observe the Relative Strength Index (RSI) moving sideways near the 50 level, and the EUR/USD positioned between the Simple Moving Averages (SMAs) of 20 and 50. This reflects the market's indecisiveness regarding this currency pair. However, the price remains above the SMAs, indicating the potential continuation of the upward trend in the near future.
