The EUR/USD pair is trading near the resistance zone on a 30 minute time frame. The price is visiting this level for the fourth time so this level may not have enough resistance to stop the price action this time. The pair is also trading above the 50-day (shown in green) and the 100-day (shown in yellow) moving averages which suggests that the bulls have taken the control and the price is bullish.
However, the RSI is showing a clear sign of deflection in relation to the price action, which means bias could be to the downside.
EUR/USD M30" title="EUR/USD M30" width="1441" height="742">
Important Levels
Support Zone
1.2902-1.2874 Minor
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
1.2997-1.2975 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