The EUR/USD pair has violated its support zone on a 30 minute time frame as the price as touching this support zone for the third time. However, the price action has broken its downward channel to the upside which is a bullish sign for the pair. Moreover, the price is also trading above the 50 day (shown in green) but below the 100 day (shown in yellow) moving averages which represents that the bears are losing their grip.
The RSI is trading in line with the price action which means that as the price is making the higher high so does the RSI. Therefore, the bias could be to the upside
EUR/USD" width="1437" height="752">
Important Levels
Resistance Level
1.3521-1.3488 Major
1.3393-1.3431 Major
1.3250-1.3214 Minor
Support Zone
1.3056-1.3036 Minor (Not valid)
1.2963-1.2939 Major
1.2838-1.2820 Major
DISCLOSURE & DISCLAIMER:
The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.
by Naeem Aslam