EURUSD Intra-Day Technical Analysis - Price is on primary bearish with nearest 1.2644 support level to be crossed

EURUSD Intra-Day Technical Analysis - Price is on primary bearish with nearest 1.2644 support level to be crossed

5 November 2014, 18:11
Sergey Golubev
0
209

H4 price is on primary bearish for trying to break 1.2466 support level for the bearish to be continuing.

  • Chinkou Span line is located below the price
  • Ichimoku cloud/kumo (Senkou Span A and Senkou Span B) is above the price - this is indicating the bearish market condition.
  • The nearest support level for H4 price is 1.2466
Resistance
Support
1.2566
1.2466
1.2577
N/A

If H4 price will break 1.2466 support level on close H4 bar so the primary bearish will be continuing.
If not so we may see the ranging market condition within primary bearish.

  • Recommendation for short: watch H4 price to break 1.2466 support for possible sell trade
  • Recommendation to go long: N/A
  • Trading Summary: bearish

SUMMARY : bearish

TREND : possible ranging
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