The EUR/USD pair is moving higher by making higher highs and lower lows on a 30 minute time frame. The price briefly broke the 50-day (shown in green) and 100-day (shown in yellow) moving averages, but recovered rapidly and is trading back above the both lines. This means that the bulls are back in control, and the bias could be to the upside.
The price also respects its upward trend line, and has not violated this line so far which further strengthens the above argument. The RSI is trading in line with the price action, which means that the bias could be to the upside.
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