Focus: The pair need to break the 1.3591 resistance zone to confirm the uptrend. The immediate term support zone could be near the 1.3354 level.
Strategy in Play
The EUR/USD has fallen from its resistance on a 30 minute time frame as predicted. This resistance zone was given in our analysis yesterday. The price pierced the Bollinger band at this level and the piercing of the Bollinger band does have a significant importance when this takes place at an important level of support/resistance because this has the ability to pause or reverse the current trend. The EUR/USD 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