NZDUSD Technical Analysis 2014, 16.11 - 23.11: Ranging Bearish or Ranging Bullish after Breakout?

D1 price is on primary bearish with secondary market rally:

• Chinkou Span line crossed the price on open D1 bar from below to above for good possible breakout.
• D1 price is crossing Senkou Span A line of Ichimoku indicator to be inside the cloud/kumo for ranging bullish market condition.
  
• Nearest support level is 0.7659
• Nearest resistance level is 0.7928

H4 price is on bullish by ranging between 0.7938 resistance and 0.7824 support levels.

W1 price is on primary bearish with market rally started on open W1 bar for now.

MN price is on bearish market condition with secondary ranging: This November MN bar was opened inside kumo and below Senkou Span A line which is virtual border between primary bullish and the primary bearish on the chart.

If D1 price will break 0.7928 resistance level on close D1 bar so the price will be reversed to primary bullish with secondary ranging
If not so we may see the ranging within bearish market condition.

• Recommendation for long: watch D1 price to break 0.7928 resistance for possible buy trade
• Recommendation to go short: n/a
  
• Trading Summary: ranging
  

SUMMARY : bearish