The EUR/USD fell from its resistance zone on a 30 minute time frame as predicted. This resistance zone was given in our analysis on the 4th of December.
The pair is finding its support near the 50 day (shown in green) and 100 day (shown in yellow) moving average, but a break of these averages will be a further confirmation of the weakness in the price. However, if the pair does bounce back from this support, the resistance at 1.3636 could still act as a major hindrance for the upside
The RSI is trading in-line with the price action which means that the bias could be to the downside.
Important Levels
Resistance Levels
1.3737-1.3115 Major
1.3666-1.3636 Minor
Support Zone
1.3530-1.3518 Minor
1.3501-1.3486 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