EURUSD Technical Analysis 2015, 20.09 - 27.09: ranging bullish

Daily price is on bullish market condition for secondary ranging between the following support/resistance levels:

• 1.1713 key resistance level located far above Ichimoku cloud in the primary bullish area of the chart;
• 1.0924 key support level located far below Ichimoku cloud in the primary bearish area of the chart.
  

Intermediate s/r levels for this pair on the way to the key s/r are the following: 1.1440 resistance and 1.1131 support level.

D1 price - ranging bullish:

• Tenkan-sen line is below Kijun-sen line for the secondary correction.
• Absolute Strength indicator's data is estimating the ranging condition.
  
• Chinkou Span line is located above the price for ranging by direction.
• 'Reversal' Senkou Span line as the border between the primary bullish and the primary bearish on the chart is located to be near 1.1131 intermediate support level.
• Nearest support levels are 1.1131 and 1.0924.
• Nearest resistance levels are 1.1440 and 1.1713.

If D1 price will break 1.0924 support level on close D1 bar so we may see the reversal of the price movement to the primary bearish market condition.
If D1 price will break 1.1713 resistance level so the bullish trend will be continuing.
If not so the price will be on ranging between the levels.

• Recommendation for long: watch close D1 price to break 1.1713 for possible buy trade
• Recommendation to go short: watch D1 price to break 1.0924 support level for possible sell trade
  
• Trading Summary: ranging
  

SUMMARY : bullish