AvaTrade - Analytics

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    EUR/USD- pair is moving in a sideway pattern

    The EUR/USD pair is moving in a side way pattern on a 30 minute time frame. This usually means that the price is trading in a range and traders usually buy towards the lower end of this range and sell towards the upper end of this range. In terms of patterns, we also have formed an ascending  triangle pattern, which if broken towards the upside, could push the price towards the major resistance (mentioned below).

    The RSI is trading is also trading in an overbought zone, which is confirming that we could see a correction very soon. However, the MACD indicator has just turned positive, indicating that the upward momentum is picking up.

    EURUSD 25-02-2014

    Important Levels

    Support Levels

    1.1280-1.1269 Minor

    1.1172-1.1150 Major

    Resistance Zone

    1.1449-1.437 Minor

    1.1549-1.1536 Major


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