AutoChartist Report Forex (Eur) 15.10.2018
The EUR/USD has touched its resistance zone on a 4 hour time frame. This resistance zone has a significant importance because, when the price was at this level previously, it fell very sharply. The volatility for the price is low, as the price is trading within the Bollinger band and it is also close enough to its 20 day moving average. The pair is trading well above both the upward trend lines which confirm that the uptrend is extremely strong and any pull back could be an opportunity to join 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.
The RSI has entered in the over bought 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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