AvaTrade - Analytics


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    EUR/USD- The uptrend move is becoming weak

    The EUR/USD pair has broken its downward trend line on a 30 minute time frame. This confirms that the downward trend on this frame is no longer in play however, on a bigger time frame it may look a completely different situation. It is always important to know the trend of the bigger time frame and trade in the direction of that trend. So for a scalper, a 30 minute time frame does represent a bigger time frame. The price is also trading above the 50 and 100 day moving averages which are shown by the yellow and the red line respectively. This reflects that the bulls are in control of the price action.

    The RSI and the MACD indicators are trading in line with the price action which means that the corrective move continue as the momentum indicates are not showing any slowdown.


    Important Zone

    1.0520-1.0560 Support

    1.0805-1.0745 Resistance

    Screen Shot 2015-04-16 at 08.03.30

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