The EUR/USD pair fell from its resistance zone as predicted on Wednesday, and moved sharply towards its support zone on a 30 minute time frame. The price also pierced the Bollinger Band® . The RSI was showing a clear sign of divergence between the price and the RSI, which means that the bias was to the upside. The price was trading well below the 50 day (shown in green) and 100day (shown in yellow) moving average.
Important Levels
Resistance Level
1.3521-1.3488 Major
1.3393-1.3431 Minor
Support Zone
1.3195-1.3174 Minor
1.3056-1.3036 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