EURUSD Technical Analysis 2014, 09.11 - 16.11:  MN Breakdown

EURUSD Technical Analysis 2014, 09.11 - 16.11: MN Breakdown

9 November 2014, 19:15
Sergey Golubev
0
507

D1 price is on primary bearish with secondary ranging started on open bar with 1.2364 as the nearest support level.

H4 price is market rally within bearish market condition:

  • Chinkou Span line is located to be very close to the price for possible crossing it from below to above for good possible breakout
  • Senkou Span A line of Ichimoku indicator is located exact above the price for possible reversal of the price movement from primary bearish to the primary bullish market condition
  • The nearest support level is 1.2357
  • Nearest resistance levels are 1.2468 and 1.2532

W1 price is on primary bearish with 1.2485 support level which is crossed by open W1 price for now.

MN price: this is breakdown on open MN price going right now:

  • Chinkou Span line of Ichimoku indicator is crossing the price from above to below
  • The price is crossing 1.2485 resistance on open MN price for now

If D1 price will break 1.2364 support level so the primary bearish will be continuing (good to open sell trade for example)
If not so we may see the ranging or rally within bearish market condition.

  • Recommendation for short: watch D1 price to break 1.2364 support for possible sell trade
  • Recommendation to go long: n/a
  • Trading Summary: bearish
Resistance
 Support
1.2532
1.2485
1.2613
1.2364
1.2770
1.2357

SUMMARY : bearish

TREND : breakdown


Intraday Chart




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