The EUR/USD pair is trading below the downward trend line on a 30 minute time frame. The price has not challenged or broken this trendline, which represents weakness for the pair and bias could be to the downside.
The EUR/USD is trading below the 50-day (shown in green) and 100-day (shown in yellow) moving averages, which further strengthen the above argument. However, the RSI is showing a clear sign of deflection which means the bias could be to the upside.
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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