Above is the 4-hour chart of EUR/USD. After late August, Euro has been undergoing a downward trend and reaching lower levels.
The red line represents the downward trend, which has successfully resisted the currency a few times.
Currently, EUR climbs to the red line again. We have to keep an eye on whether it would break out, and I think the chance is quite high.
MACD and Stochastic slow both shows a divergence recently. This shows that the price should be having a trend reversal and that EUR would start moving in bullish trend.
EUR could not break down after two trials, and that means the buying force of Euros at that level is quite strong.
So I think Euro would break out, support levels are predicted using fibonacci retracement: 1.361, 1.381, 1.354.
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