M5 price is located below SMA with period 100 (100-SMA) and below SMA with the period 200 (200-SMA) with primary bearish market condition: 100-SMA crossed 200-SMA for bearish breakdown, and the price is trying to break 1.1141 intermediate support level from above to below for the bearish trend to be continuing. The key reversal support/resistance levels for this pair are the following: 1.1223 resistance located in the bullish area of the chart, and 1.1094 support level located in the primary bearish area of the chart.
- if the price will break 1.1223 resistance level so the bullish trend to be started on this timeframe.
- if price will break 1.1094 support so the bearish trend will be continuing.
- if not so the price will be ranging within the levels.
|Resistance ||Support |
- Recommendation to go short: watch the price to break 1.1094 support level for possible sell trade
- Recommendation to go long: watch the price to break 1.1223 resistance level for possible buy trade
- Trading Summary: ranging
SUMMARY : ranging