The EUR/USD pair has broken its symmetrical triangle pattern on a 30 minute time frame. If this pattern does play out completely, then we could see the price near the major support zone (1.268-1.265). The price is trading below the 50 day (shown in green) and above the 100 day (shown in yellow) moving averages, which suggest not all the technical sentiment is bearish.
Volatility for the pair remains low as the price is trading within the Bollinger Band® with a standard deviation of 2. The RSI has shown a clear sign of deflection, which means bias could be towards the downside.
EUR/USD M30" title="EUR/USD M30" width="1424" height="741">
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
1.2644-1.2919 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