EURUSD Intra-Day Technical Analysis - key support to be crossed for the bearish breakdown to be continuing
22 September 2015, 07:33
2
2 035
H4 price
broke Ichimoku cloud to be reversed to the primary bearish market condition trying to break 1.1171 key support level from above to below on close H4 bar for the bearish breakdown to be continuing.
- Chinkou Span line crossed the price from above to below for good breakdown.
- The price broke Ichimoku cloud/kumo and Senkou Span line (which is the virtual border between the primary bullish and the primary bearish on the chart) and came to the bearish area of the chart.
- The nearest key support level is 1.1171.
- The nearest key resistance level is 1.1459.
| Resistance | Support |
|---|---|
| 1.1329 | 1.1171 |
| 1.1459 | N/A |
If
H4 price will break 1.1171 support level on close H4 bar so the primary bearish breakdown will be continuing.
If H4 price will break 1.1459 resistance level so we may see the reversal to the primary bullish
condition.
If not so we may see the ranging market condition within the levels.
- Recommendation for long: watch close H4 price to break 1.1459 for possible buy trade
- Recommendation
to go short: watch H4 price to break 1.1171 support level for possible sell trade
- Trading Summary: ranging
SUMMARY : bearish
