EURUSD H4 weekly forecast 2016-05-week2

9 May 2016, 09:15
oleksandr bilokon


Estimated levels of the week:

Support (S1w / S2w / S3w = 1.1379 / 25 / 1.1237) and resistance (R1w / R2w / R3w = 1.1556 / 1.1610 / 1.1699).

Key level (1st from 1.1427 to 1.1443 at the end of the week, 2nd 1, 1376 to 1.1464).

The direction of price movements influenced (up D1, down H4) higher than (middle of Up W1 channel).

Trending indicators Ichimoku, EMA24, indicate Down-direction motion correction, and a total EMA120,521 UP-direction movement of quotations.

Indicator OsMa marked increase in activity bears the sample (up H1 broken) and entry prices in the interval between key levels, which provides a basis for planning of trading correction.

Given the state of the OS and focus oscillators Stochastics, expect a test level 1.1379 (S1-w, EMA120, down H4), where it is recommended to consider the activities of the parties on the charts of smaller timeframes. 

For LONG position, on condition of formation of reversal of settlement support levels (S1w) breakdown above (down H4), target levels may be the following turn: 1.1472 (R1MN), the second key level, and provided the breakdown to R1w, R2w, up H1 broken, R3w.

For alternative SHORT position correction, on condition of formation of reversal of levels (down H4, R1-m), breakdown (S1-w), target levels may be some turn (Up D1, middle of Up W1 channel, S-2w, down H4 broken, S1MN), provided the following breakdown to (S3w, EMA 521, Down W1 broken). 

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