The EUR/USD pair has formed a reverse complex Head & Shoulder pattern on a 30 minute time frame. The price is trading above the 50 day (shown in green) and the 100 day (shown in yellow) moving averages which suggest that bias could be to the upside. The volatility for the pair remains low as the price is trading within the Bollinger band and close to its 20 day moving average.
The RSI is trading in line with the price action which further suggests that bias could be to the upside.
EUR/USD M30" title="EUR/USD M30" width="1440" height="754">
Important Levels
Support Zone
1.2686-1.2653 Major
1.2770-1.2743 Major
Resistance Zone
1.3239-1.3191 Major
1.3115-1.3100 Major
1.3050-1.3034 Minor
1.2997-1.2975 Minor
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