EURUSD Intra-Day Technical Analysis - Market Rally or Bearish Ranging?

H4 price is on bearish market condition with secondary ranging between 1.1222 resistance and 1.1086 support levels. The price is started the local uptrend on open H4 bar as the secondary market rally by trying to break 1.1222 resistance from below to above for the rally to be continuing. If the price breaks this 1.1222 level so the rally will be continuing up to 1.1332 as the next bullish target located inside Ichimoku cloud in the bullish area of the chart.

• Chinkou Span line is located below the price for ready to cross it from below to above for good breakout of the price movement.
• The price is crossing 1.1222 resistance from below to above for the rally to be continuing.
• The nearest key support level for H4 price is 1.1086.
• The nearest key resistance levels are 1.1222 and 1.1332.

If H4 price will break 1.1086 support level on close H4 bar so the primary bearish will be continuing.
If H4 price will break 1.1222 resistance level on close bar so we may see the local uptrend as the secondary market rally within the primary bearish market condition.
If H4 price will break 1.1332 resistance level so we may see the reversal of the price movement to the bullish condition with the secondary ranging: the price will be located inside Ichimoku cloud.
If not so the price will be on bearish ranging within familiar levels.

• Recommendation for long: watch close H4 price to break 1.1222 for possible buy trade with re-enter at 1.1332.
• Recommendation to go short: watch H4 price to break 1.1086 support level for possible sell trade.
  
• Trading Summary: market rally
  

SUMMARY : bearish