EURUSD Intra-Day Technical Analysis - wide range within key levels
15 September 2015, 09:39
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H4 price
is on bullish market condition for ranging within 1.1372 bullish resistance and 1.1086 bearish support levels.
- Chinkou Span line is located above the price indicating the ranging trend by direction.
- The price is located above Ichimoku cloud for the primary bullish market condition.
- Symmetric triangle pattern was crossed by the price from below to above for the bullish trend to be continuing.
- Intermediate resistance level for the price on the way to the 1.1372 bullish target is 1.1337.
- Intermediate support levels for the price on the way to the 1.1086 bearish target are 1.1282 and 1.1131.
| Resistance | Support |
|---|---|
| 1.1337 | 1.1131 |
| 1.1372 | 1.1086 |
If
H4 price will break 1.1086 support level on close H4 bar so the price will be reversed to the primary bearish market condition.
If H4 price will break 1.1372 resistance level so the bullish trend will be continuing.
If not so we may see the ranging within the levels.
- Recommendation for long: watch close H4 price to break 1.1372 for possible buy trade
- Recommendation
to go short: watch H4 price to break 1.1086 support level for possible sell trade
- Trading Summary: ranging
SUMMARY : bullish
