EURUSD H4 weekly forecast 2016-05-week1

2 May 2016, 09:40
oleksandr bilokon


Weather (Weekly):

Estimated levels of the week:

Support (S1-w / S2 / S3 = 1.1283 / 1.1228 / 1.1137), resistance (R1-w / R2 / R3 = 1.1467 / 1.1524 / 1.1615).

Key support levels (1st from 1.1307 to 1.1387 late in the day, 2nd 1, 1284 to 1.1348).

The direction of price movements influenced (up H1, up H4) higher than (middle of Up W1 channel).

Trending indicators Ichimoku, EMA24, EMA120 indicate the general direction of movement UP-quotations.

Indicator OsMa marked increase in activity of bulls in the sample (down H4 broken), which provides the basis for planning of trading correction.

Given the status and direction of OB oscillators Stochastics, expect a test levels 1.1472-1.1467 (R1-m, R1-w, up H1), where it is recommended to consider the activities of the parties on the charts of smaller timeframes.

For shopping, subject to the breakdown above calculated resistance levels (R1-m, R1-w), target levels can be (R2, R3).

For alternative short position correction, on condition of formation of reversal of levels (R1-m, R1-w), breakdown (up H1) and the return rate target levels may be some turn (EMA24, down H4 broken, middle of Up W1 channel, key support levels, up H4, S1-w), provided the following breakdown S1-w to (S2, Down W1 broken, EMA 521, S3). 

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