EURUSD Technical Analysis and Forecast 14.04 - 21.04 : Bear Market Rally
Just some interesting situation for EURUSD H2 and H4 for now where Chinkou Span line of Ichimoku indicator is crossing the price for possible breakdown.
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eurusd h4 breakdown
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eurusd h2 breakdown
Just some interesting situation for EURUSD H2 and H4 for now where Chinkou Span line of Ichimoku indicator is crossing the price for possible breakdown.
I call it 'breakdown in GANGNAM STYLE ' :)
- youtu.be
Chinkou Span line is crossing the price on open bar for now and I am with +15 pips in profit for now:
Breakdown is started on H4 timeframe on open bar and I am having +35 pips in profit for now:
Are you trading on a real live account ?
Seems not.
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- Recommendation for long: watch the price crossing 1.3138 resistance with profit level of 1.3230 and initial stop as 1.2900
- Recommendation to go short: watch the price crossing 1.3036 support with profit level of 1.2940 and stop loss as 1.3230
- Trading Summary: risky
Price is till ranging between 1.3138 and 1.3036/1.3004 support/resistance lines and Tenkan line still did not cross with Kijun line on close bar. Some traders (who are using trend following systems) are waiting for the signals to enter for short or long.
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eurusd d1 ranging
UPCOMING EVENTS
2013-04-15 02:00 GMT | [CNY - Gross Domestic Product]
2013-04-16 09:00 GMT | [EUR - German ZEW Indicator of Economic Sentiment]
2013-04-16 12:30 GMT | [USD - Consumer Price Index]
2013-04-16 13:00 GMT | [EUR - ECB President Draghi Speaks]
2013-04-19 06:00 GMT | [EUR - German Producer Price Index]
I am not sure but I think that this big price movement is because of German ZEW
This is big price movement for now but I think it is related to intra-day situation connected with economic news:
By the way - I am having 49 pips in profit for open trade for now.
- Recommendation for long: watch the price crossing 1.3138 resistance with profit level of 1.3230 and initial stop as 1.2900
- Recommendation to go short: watch the price crossing 1.3036 support with profit level of 1.2940 and stop loss as 1.3230
- Trading Summary: risky
Situation is changing slowly: Chinkou Span line is crossing historical price on open bar. I am in profit with 64 pips in profit for now (we can see it from the image):
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Last week, EURUSD was on bear market rally during the breakout of 1.3036. This market rally as secondary trend was stopped below level of 1.3126 and below Ichimoku cloud which is indicating the bearish market condition as a primary trend.
Tenkan line is started to be crossed with Kijun on open D1 bar for possible continuation of this rally but Chinkou Span line is near the price for possible correction within secondary trend. Thus, I am expecting for EURUSD to be in ranging market condition between 1.2900 and 1.3308
UPCOMING EVENTS
2013-04-15 02:00 GMT | [CNY - Gross Domestic Product]
2013-04-16 09:00 GMT | [EUR - German ZEW Indicator of Economic Sentiment]
2013-04-16 12:30 GMT | [USD - Consumer Price Index]
2013-04-16 13:00 GMT | [EUR - ECB President Draghi Speaks]
2013-04-19 06:00 GMT | [EUR - German Producer Price Index]
SUMMARY : Bearish
TREND : Ranging
IntraDay Analysis :
Price is ranging between 1.3036 and 1.3138. Watch for breaking of those levels for posible buy or sell. Conclusion: risky.