EURUSD Mid Week Update: Daily Breakdown with 1.2247 Key Support

D1 price is on primary bearish market condition with good breakdown of the price movement:

• The price is located below Ichimoku cloud/kumo with Senkou Span A line as the nearest kumo border which is indicating the primary bearish
  
• Chinkou Span line broke the price from above to below which is indicating the breakdown on D1 timeframe
  
• Nearest support level is 1.2320
  
• Nearest resistance level is 1.2569

W1 price is on primary bearish market condition with breaking 1.2247 support on open W1 bar for now.

MN price is on bearish breakdown by breaking 1.2357 support level with Chinkou Span line of Ichimoku indicator crossing the price from above to below.

If D1 price will break 1.2247 support level so the primary bearish will be continuing
If D1 price will break 1.2569 resistance level so the price will be reversed from primary bearish to the primary bullish with ranging
If not so we may see the ranging within bearish market condition.

• Recommendation for long: watch D1 price to break 1.2569 resistance for possible buy trade
• Recommendation to go short: watch D1 price to break 1.2247 support level for possible sell trade
  
• Trading Summary: bearish breakdown
  

SUMMARY : bearish