EUR/USD UPDATE 29 5 2025The chart you've shared is a 30-minute candlestick chart for the Euro/US Dollar (EUR/USD) currency pair, published on TradingView. Here’s a breakdown of the technical elements:
Key Levels and Zones:
Support Zone (lower yellow zone): ~1.12100 to ~1.12500
Current Price: 1.12776
Resistance Zones:
Mid resistance zone: ~1.12850 to ~1.13000
Upper resistance zone: ~1.13500 to ~1.13700
Observations:
The price is currently around 1.12776, just below the mid resistance zone.
The chart includes two blue arrow projections:
1. A bullish projection: Suggests a break above the mid resistance, heading toward the upper resistance (~1.13657).
2. A bearish projection: Indicates a potential drop toward the support zone before bouncing back up toward the upper resistance.
Volume:
Noticeable spike in volume during the drop before price stabilized near the support zone, suggesting strong selling pressure was absorbed.
Implications:
If the price breaks above the 1.13000 level with strong volume, it could signal a move toward the 1.13657 level.
A rejection from the mid resistance zone could lead to a retest of the lower support area before attempting another upward move.
Would you like a deeper technical analysis, or help planning trade entries/exits based on this chart?
