EUR/USD- In A Support Zone, Will You Trade?
AvaTrade | Apr 22, 2014 12:49AM ET
The EUR/USD is trading back in a minor support zone (mentioned below) a 60 minute time frame. The price is trading below the downward trending line which mean that the bias could be to the downside. It is has also formed a descending triangle pattern and if the price breaks out of this pattern we could see the projection of this easily falling near the major support zone.
The ADX indicator is showing the market is not trending and expect a reversal. The RSI is trading in line with the price action which means that the bias could be to the downside.
Important Levels
Resistance Levels
1.3966-1.3940 Major
1.3922-1.3901 Minor
Support Zone
1.3813-1.3781 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
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