The EUR/USD pair bounced back up from its support zone on a 30 minute time frame. The price has also broken its downward trend to the upside, which means that the bulls are taking the control. The price action is also trading above the 50day (shown in green) but below the 100 day (shown in yellow) moving averages which further confirms the above argument.
The RSI is trading in line with the price action which means that the price is making higher high and so is the RSI. Therefore, the bias could be to the upside.
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
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