EUR/USD Morning Technical Report 24/4/2014

The pair failed to breach 1.3850 and stabilize above it yesterday weakening the upside move. By examening RSI 14, we notice slight weakness despite that its still stable above line 50, as Stochastic tends to be neutral despite that its signal lines are trading above line zero.

The abovementioned indicates that the upside move is somehow weak, but since trading is still stable above 1.3780 we hold on to our positive expectations because the pair is trading within an ascending channel as showin on graph. Stochastic is positive and supports our expectations, but the pair has to stabilize above 1.3850 to confirm our positive outlook intraday today and bring positivity back to RSI and MACD Indicators.