0
695
D1 price is on primary bearish located below 200 period SMA and 100 period SMA with ranging market condition:
- The price is ranging between 1.0461 key support and 1.1395 key resistance levels
- Triangle price pattern is crossed by the price from below to above on open D1 bar with the nearest 1.0825 support level
- “EURUSD rolled over at slope resistance but several longer term technical observations are worthy of note; the rate found low at an important long term level (line off of 2008 and 2010 lows) and the ownership profile (as per COT) is at a record. The speculative crowd has never been more bearish…ever. Such conditions typically precede important reversals…although not necessarily right away. A break above the resistance lines (old support) would indicate that behavior has significantly changed and open up a run on 1.13.”
Trend:
- H4 - reversal breakout
- D1 - ranging bearish
- W1 - bearish
- MN1 - bearish breakdown