At trading in Asia on Monday, the EUR/USD currency pair is trading multidirectionally in a narrow range, remaining within the current support level at 1.1559 with the resistance level at 1.1618. The four-hour chart continues to develop in the area between exponential moving averages, demonstrating the emergence of an upward trend in this market in the short term.
Moving averages with a period of 21 and 55 days continue to move down, maintaining a decent discrepancy, which indicates the remaining potential of sellers, however, this may not be enough to continue the bearish trend in this market in the short term.
The technical picture indicates an increasing bullish potential in this market, as the MACD histogram has entered the area confidently above its central line, and the strength indicator of the current RSI movement has risen above the 50 line, confirming the bullish dynamics of this market in the short term.
Thus, we intend to buy this trading instrument today.