Technical Weekly Price Action Analysis - EURUSD is on ranging bearish with 1.1466 resistance level
12 June 2015, 12:11
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W1 price is located below 200 period SMA and 100 period SMA with the secondary ranging within the primary bearish market condition:
- The price is ranging between 1.0428 support and 1.1441 resistance levels.
- The Triangle pattern is going to be broken by weekly price from below to above on open bar for now for the bear market rally to be started.
- “A close above 1.1330 is needed to set off a more important leg higher in the rate.”
- "A close below 1.1035 would turn us negative on the exchange rate ."
Trend:
- H4 - ranging
- D1 - ranging bearish
- W1 - ranging bearish
- MN1 - ranging bearish
