EURUSD Intra-Day Technical Analysis - Price Is Below Triangle For "Ready To Go"

EURUSD Intra-Day Technical Analysis - Price Is Below Triangle For "Ready To Go"

27 November 2014, 15:33
Sergey Golubev
0
549

H4 price is located below Ichimoku cloud/kumo  for bearish market condition. Kumo is very thin one and the borders of the cloud are not strong enough to be considered as support/resistance levels for this timeframe now. Chinkou Span line crossed the price from below to above for possible breakout for on open H4 bar for now, seems - we need to wait for the other H4 bar to be closed for the situation to be clear in this case.

  • Chinkou Span line is crossing the price from below to above for possible breakout
  • Ichimoku cloud is thin one, and Senkou Span A line is located exact above the price - if the price will cross this line so we may see the reversal of the price movement from the primary bearish to the bullish market condition
  • The price is located below triangle pattern
Resistance
Support
1.2523
1.2464
1.2531
1.2442


If H4 price will break 1.2442 support level on close H4 bar so the primary bearish will be continuing.
If H4 price will cross 1.2531 resistance level so we may see good breakout of the price movement (good to open sell trade for example)
If not so we may see the ranging market condition.

  • Recommendation for short: watch H4 price to break 1.2442 support for possible sell trade
  • Recommendation to go long: watch H4 price to break 1.2531 resistance for possible buy trade
  • Trading Summary: ranging

SUMMARY : bearish

TREND : ranging
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