mql5

EUR/USD H4: ranging bearish breakdown. The price broke Senkou Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart to be traded inside Ichimoku cloud for the ranging market condition. There are the following key reversal support/resistance levels for intra-day price:

• 1.1059 resistance level located above Ichimoku cloud in the bullish area of the chart;
• 1.0795 support level located on the border between the primary bearish and the primary bullish trend of H4 chart; and
• 1.0580 support located below Ichimoku cloud in the bearish area.

Absolute Strength indicator is estimating the bearish trend to be continuing.

• if the price breaks 1.1059 resistance so we may see the reversal of intra-day price from the ranging bearish to the primary bullish market condition;
• if the price breaks 1.0795 support so the bearish trend will be continuing without secondary ranging;
• if the price breaks 1.0580 support level so we may see good possible bearish breakdown;
• if not so the price will be moved within the channel.

Resistance	Support
1.1010	1.0795
1.1059	1.0580