Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

EUR/USD: Technical Analysis

Published 04/29/2013, 07:16 AM
Updated 02/02/2022, 05:40 AM
EUR/USD
-
ACT
-

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).
<span class=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


Latest comments

Loading next article…
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.