EURUSD Intra-Day Technical Analysis - the secondary correction near reversal area waiting for direction

H4 price broke 100 period SMA together with 200 period SMA from below to above in the end of the previous week, and the price was corrected to be bounced from 1.0980 resistance level back to 1.0795 support located near the border between the primary bearish and the primary bullish trend on the chart. The price is on the ranging condition for now located within the following support/resistance levels:

• 1.0980 key reversal resistance level located above 100 SMA/200 SMA on the primary bullish area of the chart, and
• 1.0628 key reversal support level located below 100 SMA/200 SMA in the beginning of the primary bearish area.
  

RSI indicator is estimating the secondary correction near bearish reversal.

If H4 price will break 1.0628 support level on close H4 bar so we may see the reversal from the primary bullish to the primary bearish market condition with 1.0516 level as the next target.
If H4 price will break 1.0980 resistance level on close H4 bar so the bullish market condition will be continuing with 1.1052 level as a target.
If not so the price will be on ranging within the levels waiting for direction.

• Recommendation for long: watch close H4 price to break 1.0980 for possible buy trade
• Recommendation to go short: watch H4 price to break 1.0628 support level for possible sell trade
  
• Trading Summary: ranging near reversal area waiting for direction
  

SUMMARY : ranging