EURUSD developing a base at current levels

Stochastics helps to determine the strength of continuation in a trend. According to marketkolor.com, EURUSD Stochastic lines have recently developed an uptrend. This implies that price action is building a base and we could see corresponding momentum to the upside. Look for further confirmation of upside in price action and position accordingly. Remember marketkolor.com has also stated that support and resistance trading strategies would most likely work well in current market conditions.