W1 price is on primary bearish market condition for trying to break 1.4253 resistance level together with Senkou Span A line which is the virtual border between the primary bullish and the
primary
bearish on the chart. If the price breaks 1.4253 from below to above on close weekly bar so we may see the total reversal from the bearish to the bullish market condition with the secondary ranging - price will be located inside Ichimoku cloud in this case.
- The
price is crossing Ichimoku cloud/kumo and Senkou Span A line
(which is the virtual border between the primary bullish and the
primary
bearish on the chart) for possible reversal of the price movement from
the primary bearish to the primary bullish market condition.
- Tenkan-sen line is above Kijun-sen line of Ichimoku indicator for bullish condition to be continuing.
- Chinkou Span line crossed the price from below to above for good possible breakout of the price movement.
- Nearest support levels are 1.3428 (W1) and 1.3019 (MN1)
- Nearest resistance levels are 1.4253 (W1) and 1.4473 (MN1)
If W1 price will break 1.3428
support level on close W1 bar so the primary bearish will be continuing without the secondary ranging up to 1.3019 as the next target.
If W1 price will break 1.4253 resistance level so we may see the reversal to the primary bullish
condition with secondary ranging (the price will be inside Ichimoku cloud/kumo in this case).
If not so the price will be ranging between 1.4253 and 1.3019 levels.
| Resistance | Support |
|---|---|
| 1.4253 (W1) | 1.3428 (W1) |
| 1.4473 (MN1) | 1.3019 (MN1) |
Trend:
