EURUSD Intra-Day Technical Analysis - bearish breakdown

EURUSD Intra-Day Technical Analysis - bearish breakdown

14 July 2015, 10:10
Sergey Golubev
5
1 326

H4 price is on bearish market condition with ranging between Senkou Span A line (which is the border between primary bullish and the primary bearish on the chart) and 1.0972 support level. Chinkou Span line is crossing the price from above to below for good possible breakdown in the near future. If the price breaks 1.0972 support so we may see the bearish breakdown, if the price breaks 1.1084 so it will be the bullish market condition, if not so it will be totally ranging (the price will be inside Ichimoku cloud).

  • Chinkou Span line is crossing the price from above to below for good breakdown.
  • The price is located below Ichimoku cloud/kumo which is indicating the primary bearish market condition.
  • The nearest support level for H4 price is 1.0972.
  • The nearest resistance levels are the value of Senkou Span A line and 1.1084 as the next level.
Resistance
Support
1.10841.0972
1.1196N/A


If H4 price will break 1.0972 support level on close H4 bar so we may see the bearish breakdown.
If H4 price will break 1.1084 resistance level so the price will be reversed on bullish market condition.
If not so the price will be on ranging between 1.0972 and 1.1084 levels.

  • Recommendation for long: watch close H4 price to break 1.1084 for possible buy trade
  • Recommendation to go short: watch H4 price to break 1.0972 support level for possible sell trade
  • Trading Summary: bearish

SUMMARY : bearish

TREND : breakdown