Last week was marked by the long-awaited FOMC meeting, the pair ended up failing to get out of range. Let's take a closer l
Technical Analysis - 4 hour time frame chart
On the 4-hour chart, you can see that the pair is still trading in range.
Recently, buyers have managed to regain price control near the lower limit of lateralization. As long as buyers manage to maintain price control, they should expect the bullish move to extend towards the zone at 1.13481.
EUR/USD, 4 hours time frame chart. Source: xStation 5
US dollar Index (USDIDX)
If we take a look at US Dollar Index chart (USDIDX), it is possible to verify that the price is trading in a triangle in which it could dictate a continuation of the uptrend, if the buyers manage to regain control of the price.
USDIDX, 4 hours time frame chart. Source: xStation 5
During this session, euro leads gains.
Source: currency-strength.com
Henrique Tomé, XTB Portugal
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