EUR/USD- Dropped 87 Pips From Our Identified Level, What Now?
AvaTrade | Apr 16, 2014 12:37AM ET
The EUR/USD fell from its resistance zone of (1.390-1.3922) on a 60 minute time frame as predicted. The resistance zone was given in our analysis on the 11th of April. The price is trading in a support zone and we also have the piercing of the Bollinger band. The piercing of the Bollinger band does have a significant importance when this takes place at an important level of support or resistance because this could reverse or pause the current trend.
The RSI is showing a clear sign of positive divergence in relation to the price action which mean that the bias could be to the upside. The negative divergence takes place when the price makes the lower low, but the RSI does not confirm this.
Important Levels
Resistance Levels
1.3966-1.3940 Major
1.3922-1.3901 Minor
Support Zone
1.3798-1.63781 Minor
1.3688-1.3670 Major
h3 Disclosure & Disclaimer:/h3The 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
Get The News You Want
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.