AutoChartist Rapport Forex (Eur) 15.10.2018
Focus: The pair need to break the 1.3595 resistance zone to confirm the uptrend. The immediate term support zone could be near the 1.3354 zone.
The EUR/USD is trading in a resistance on a 30 minute time frame. The price has penetrated deep enough within this zone which means that there may not be enough sellers at this point. If the price starts to consolidate at this zone, this could be a further sign of the bullish strength for this trend. The pair is trading above the 50 day (shown in green) and the 100 day (shown in yellow) moving average which confirms that the bulls are in strong control. Moreover, the EUR/USD pair is also trading above the upward trend line and has not broken this upward trend line so far which is a further confirmation of the above argument.
The RSI has entered the overbought zone which means that the bias could be to the downside.
Important Levels
Resistance Levels
1.37086-1.3662 Major
1.3595-1.3567 Minor
Support Zone
1.3354-1.3322 Minor
1.3280-1.3251 Major
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