Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

EUR/USD- Near Major Support Zone

Published 11/01/2013, 03:43 AM
Updated 02/02/2022, 05:40 AM

The EUR/USD has entered in a major support zone on a 4 hour time frame. The volatility for the price is extremely high, as the price has pierced the Bollinger band and it is trading away from its 20 day moving average.

The piercing of the Bollinger band does have a significant importance when this takes place at a resistance/support zone, because this is an ability to stop the upward/downward move or reverse the trend.

The pair has also broken its upward trend lines (shown in purple), which confirm that the uptrend is no longer in play in this time frame unless it breaks above this once again.

The RSI is trading in an extreme oversold zone which means that the strong bias could be to the upside.
EUR/USD
Important zones

Support Zone
1.3565-1.3509 Minor
1.3352-1.3321 Major

Resistance zone
1.3835-1.3793 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

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.