W1 price is located to be above Ichimoku cloud and above 'reversal' Senkou Span line which is the virtual border between the primary bullish and the primary bearish on the chart. The price is crossing 8.7029 resistance level for the bullish breakout to be continuing with 8.8913 as the next bullish target.
If the price will break 8.3979 support
level so the reversal from the primary bullish to the primary bearish market condition will be started with the secondary ranging: the price will be located inside Ichimoku cloud.
If the price will break 8.8913 resistance level from below to above so the primary bullish condition will be continuing.
If not so the price will be ranging between the levels.
- Recommendation for long: watch close W1 price to break 8.8913 for possible buy trade
- Recommendation
to go short: watch W1 price to break 8.3979 support level for possible sell trade
- Trading Summary: bullish breakout
| Resistance | Support |
|---|---|
| 8.7029 | 8.3979 |
| 8.8913 | N/A |
Trend:
