Open trading account 
The EURUSD as of late is in a full fledged bullish trend. We see it making higher highs and higher lows on all time frames aside from the Monthly.
The pair is approaching some resistance however, where traders with their eyes on the Monthly & Weekly charts may look for potential short setups. Here is the outlook:
The above charts shows a clear bullish trend. Last week we broke the downside correction which appears as a flag. We have started a new channel up on the 15m/1h. Dips towards the bottom of the channel may offer decent buy setups. We also took out previous highs after stalling in the 1.1343-1.1316 resistance zone for a short period of time.
The 4H chart does show some bearish patterns, specifically a 4H bearish engulfing candle.
The daily chart above shows a slight different picture. It is a flag pattern, and indicated by the eclipse we have already seen a rejection from the bottom of the flag. As well, there is weekly support at 1.1444 - and we have not seen a weekly close above that level since the consolidation.
The possibility of a range bound week based on the shorter and longer term charts seems quite viable.
Risk Events: Tue:ISM Non-Manuf PMI, WED: Crude Oil Inv, FOMC Minutes Thu:Unemployment Claims, Draghi Speaks, Yellen Speaks
Candlestick Patterns: Doji & Hanging Man on 4H
Channels: 1H Channel up - Price trading near top.
Major Support Resistance: 1.1446 Weekly Resistance, 1.1224 Monthly Resistance turned Support
Notes: Mixed signals with a strong bullish trend and bearish signals on 4H. Strong overhead resistance can bring sellers, Yellen & Draghi combo on Thu can cause whipsaw. Dips to 15m channel can offer scalp long positions in line with the overall bullish trend
The pair is approaching some resistance however, where traders with their eyes on the Monthly & Weekly charts may look for potential short setups. Here is the outlook:
The above charts shows a clear bullish trend. Last week we broke the downside correction which appears as a flag. We have started a new channel up on the 15m/1h. Dips towards the bottom of the channel may offer decent buy setups. We also took out previous highs after stalling in the 1.1343-1.1316 resistance zone for a short period of time.
The 4H chart does show some bearish patterns, specifically a 4H bearish engulfing candle.
The daily chart above shows a slight different picture. It is a flag pattern, and indicated by the eclipse we have already seen a rejection from the bottom of the flag. As well, there is weekly support at 1.1444 - and we have not seen a weekly close above that level since the consolidation.
The possibility of a range bound week based on the shorter and longer term charts seems quite viable.
Risk Events: Tue:ISM Non-Manuf PMI, WED: Crude Oil Inv, FOMC Minutes Thu:Unemployment Claims, Draghi Speaks, Yellen Speaks
Candlestick Patterns: Doji & Hanging Man on 4H
Channels: 1H Channel up - Price trading near top.
Major Support Resistance: 1.1446 Weekly Resistance, 1.1224 Monthly Resistance turned Support
Notes: Mixed signals with a strong bullish trend and bearish signals on 4H. Strong overhead resistance can bring sellers, Yellen & Draghi combo on Thu can cause whipsaw. Dips to 15m channel can offer scalp long positions in line with the overall bullish trend
