EURUSD Intra-Day Technical Analysis - reversal level to be broken for the ranging bullish
23 July 2015, 13:06
2
1 352
H4 price
is on breakout crossed Senkou Span A line (which is the virtual border between the primary bullish and the
primary
bearish on the chart) to come to the bullish area to be inside Ichimoku cloud for secondary ranging market condition. Fow now - the price is trying to break 1.1004 resistance level for the bullish to be continuing.
- Chinkou Span line is on breakout mode by direction.
- The price broke 'reversal' Senkou Span A line and it is located inside Ichimoku cloud for the ranging bullish.
- The nearest resistance level for H4 price is 1.1004
| Resistance | Support |
|---|---|
| 1.1004 (H4) | 1.0868 (H4) |
| 1.1196 (D1) | 1.0807 (D1) |
If
H4 price will break 1.1004 resistance level on close H4 bar so the primary bullish with secondary ranging will be continuing.
If not so we may see the ranging market condition.
- Recommendation to go long: watch H4 price to break 1.1004 resistance for possible buy trade
- Recommendation for short: N/A
- Trading Summary: ranging bullish
SUMMARY : bullish
