EURUSD Intra-Day Technical Analysis - bullish with the ranging within key reversal s/r levels
14 December 2015, 12:21
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H4 price is located above SMA with period 100 (100-SMA) and SMA with the period 200 (200-SMA) for the primary bullish market condition with the secondary ranging within the following key reversal support/resistance levels:
- 1.1042 resistance level located in the primary bullish area of the chart, and
- 1.0795 support level located on the border between the primary bearish and the primary bullish trend of intra-day chart.
RSI indicator is estimating the current trend as the ranging bullish market condition.
- If the price will break 1.1042 resistance level so the primary bullish trend will be continuing without secondary ranging.
- If price will break 1.0795 support so the reversal of the price movement from the primary bullish to the primary bearish condition will be started with the secondary ranging and with 1.0623 level as the next bearish target.
- If not so the price will be ranging within the levels.
| Resistance | Support |
|---|---|
| 1.1030 | 1.0795 |
| 1.1042 | 1.0623 |
- Recommendation to go short: watch the price to break 1.0795 support level for possible sell trade
- Recommendation to go long: watch the price to break 1.1042 resistance level for possible buy trade
- Trading Summary: ranging
SUMMARY : ranging
