EUR/USD- Fell from its resistance as predicted
Focus: The pair need to break the 1.3367-1.3401 resistance zone to confirm the uptrend. The immediate term support zone could be near the 1.3126-1.3099 zone.
The EUR/USD fell from its resistance on a 30 minute time frame as predicted. This resistance level was given in our analysis on 13th of September. The resistance zone is not strong enough any more as this was the third time the price was visiting this level and the pair may be able to trade through this level very easily if it does come to this level again. The EUR/USD pair is trading well above the upward trend line and it may close the gap first which was created over the weekend, before continuing its move to the upside. The price 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.Read More