H4 price was on breakout for Senkou Span A line crossing: the price came to the bullish area of the chart to be above Ichimoku cloud. The nearest resistance line to be broken is 1.5650 with 1.5677 as the next bullish target. Chinkou Span line crossed the price from below to above for good breakout in the near future. Nearest support level 1.5567 is located to be below Ichimoku cloud in the bearish area of the chart with 1.5525 as the next bearish target.
- Chinkou Span line crossed the price from below to above for good breakout
- The price is ranging between 1.5677 resistance and 1.5525 support level.
- Absolute Strength indicator is estimating the ranging market condition in the future.
- The nearest resistance levels for H4 price are 1.5650 and 1.5677.
- The nearest support level for H4 price are 1.5567 and 1.5525.
| Resistance | Support |
|---|---|
| 1.5650 | 1.5567 |
| 1.5677 | 1.5525 |
If
H4 price will break 1.5525 support level on close H4 bar so we may see the reversal of the price movement to the primary bearish market condition.
If H4 price will break 1.5677 resistance level so the primary bullish trend will be continuing with good possible breakout.
If not so we may see the ranging within the levels.
- Recommendation for long: watch close H4 price to break 1.5677 for possible buy trade
- Recommendation
to go short: watch H4 price to break 1.5525 level for possible sell trade
- Trading Summary: ranging
SUMMARY : bullish ranging
