EUR/USD Intra-Day Technical Analysis - ranging within key reversal levels waiting for breakout or breakdown

EUR/USD Intra-Day Technical Analysis - ranging within key reversal levels waiting for breakout or breakdown

25 September 2015, 09:32
Sergey Golubev
0
1 740

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
1.12231.1094
N/A
N/A

  • 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

TREND : waiting to break the levels
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