EURUSD Technical Analysis 2015, 22.03 - 29.03: Bearish Ranging with 1.0461 Key Support Level

EURUSD Technical Analysis 2015, 22.03 - 29.03: Bearish Ranging with 1.0461 Key Support Level

23 March 2015, 09:11
Sergey Golubev
21
969
D1 price is on primary bearish market condition with the secondary ranging:
  • The price is located below Ichimoku cloud/kumo and below Senkou Span A line
  • Chinkou Span line is located too far for any future possible breakdown/breakout
  • Nearest support levels are 1.0461 (D1)
  • Nearest resistance levels are 1.1041 (D1)

W1 price is on bearish ranging with 1.0461 support level

MN price is on bearish for breaking 1.1097 support level on open MN1 bar

If D1 price will break 1.0461 support level on close D1 bar so the primary bearish will be continuing (good to open sell trade)
If D1 price will break 1.1041 resistance level so we will have the secondary market rally within the primary bearish market condition
If not so it will be bearish ranging between 1.0461 and 1.1041 levels

  • Recommendation for long: watch D1 price to break 1.1041 for possible buy trade
  • Recommendation to go short: watch D1 price to break 1.0461 support level for possible sell trade
  • Trading Summary: bearish

UPCOMING EVENTS (high/medium impacted news events which may be affected on EURUSD price movement for this coming week)

2015-03-23 14:00 GMT (or 16:00 MQ MT5 time) | [EUR - ECB President Draghi Speech]

2015-03-23 14:00 GMT (or 16:00 MQ MT5 time) | [USD - Existing Home Sales]

2015-03-23 15:45 GMT (or 17:45 MQ MT5 time) | [USD - FOMC Member Fischer Speech]

2015-03-24 01:45 GMT (or 03:45 MQ MT5 time) | [CNY - HSBC Manufacturing PMI]

2015-03-24 08:00 GMT (or 10:00 MQ MT5 time) | [EUR - French Manufacturing PMI]

2015-03-24 08:30 GMT (or 10:30 MQ MT5 time) | [EUR - German Manufacturing PMI]

2015-03-24 09:00 GMT (or 11:00 MQ MT5 time) | [EUR - Manufacturing PMI]

2015-03-24 12:30 GMT (or 14:30 MQ MT5 time) | [USD - CPI]

2015-03-24 14:00 GMT (or 16:00 MQ MT5 time) | [USD - New Home Sales]

2015-03-25 09:00 GMT (or 11:00 MQ MT5 time) | [EUR - German Ifo Business Climate]

2015-03-25 12:30 GMT (or 14:30 MQ MT5 time) | [USD - Durable Goods Orders]

2015-03-26 12:30 GMT (or 14:30 MQ MT5 time) | [USD - Unemployment Claims]

2015-03-26 13:00 GMT (or 15:00 MQ MT5 time) | [USD - FOMC Member Lockhart Speech]

2015-03-27 10:30 GMT (or 12:30 MQ MT5 time) | [USD - FOMC Member Fischer Speech]

2015-03-27 12:30 GMT (or 14:30 MQ MT5 time) | [USD - GDP]

2015-03-27 19:45 GMT (or 21:45 MQ MT5 time) | [USD - Fed Chair Yellen Speech]

Please note : some US (and CNY) high/medium impacted news events (incl speeches) are also affected on EURUSD price movement

Resistance
Support
1.1041 (D1)
1.0461 (D1)
1.1679 (W1)
1.0461 (W1)
1.3699 (MN)
N/A


SUMMARY : bearish
TREND : ranging
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