The EURUSD pair is approaching its minor resistance level on a 30 minute time frame. The price is also piercing the Bollinger Band® .The price may extend this piercing for it to enter in the minor resistance zone. There is also an ascending triangle forming on the same time frame, and if this pattern does play out then it could easily push the price beyond towards its major resistance level (mentioned below).
EUR/USD M30" title="EUR/USD M30" width="1427" height="734">
The RSI is trading in line with the price action, which means that the bias could be to the upside. However, it is also important to pay attention to the overbought level of this RSI, where the price is trading at the moment.
Important Zones
Resistance Zone
1.3319-1.3282 Major
1.3198-1.3168 Minor
1.3129-1.3110 Minor
Support Zone
1.2969-1.2952 Minor
1.2912-1.2898 Minor
1.2865-1.2842 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