The EUR/USD pair fell from its resistance level on a 30 minute time frame. This resistance level was given in our analysis on Friday. The price is trading within the descending triangle pattern, and if this pattern does play out completely it could easily push the price towards the 1.3056 level. The EUR/USD pair has also broken the upward trend line which represents the weakness in the price.
The price is still in a constant battle against its 50-and 100-day moving averages, and is struggling to close above or below these lines. This means that neither bulls nor bears have a complete control of the price.
EUR/USD M30" title="EUR/USD M30" width="1437" height="739">
Important Levels
1.3521-1.3488 Major
1.3134-1.3393 Major
1.3321-1.3287 Minor
Support Levels
1.3056-1.3036 Minor
1.2963-1.2939 Minor
1.2838-1.2820 Major
1.2770-1.2743 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