EUR/USD Intra-Day Technical Analysis - bearish breakdown
4 November 2015, 07:35
2
2 221
M5 price
is on breakdown: the price broke SMA with period 100 (100-SMA) and below SMA with the period
200 (200-SMA) from above to below to be stopped by 1.0946 support level in the bearish area of the chart. If the price breaks 1.0946 support level from above to below on close bar so the bearish breakdown will be continuing up to 1.0933 as the next breakdown target. If the price breaks 1.0957 resistance level from below to above so the next 'reversal' target will be 1.0970 resistance located in the bullish area of the chart.
- If the price will break 1.0970 resistance level so we may see the bullish trend to be started on this timeframe.
- if price will break 1.0933 support so the bearish trend will be continuing.
- if not so the price will be ranging within the levels.
| Resistance | Support |
|---|---|
| 1.0957 | 1.0946 |
| 1.0970 | 1.0933 |
- Recommendation to go short: watch the price to break 1.0933 support level for possible sell trade
- Recommendation to go long: watch the price to break 1.0970 resistance level for possible buy trade
- Trading Summary: bearish breakdown
SUMMARY : bearish
