mql5

H4 price is on bullish market condition for the ranging within the following reversal levels:

1. 1.4022 resistance level located above far Ichimoku cloud in the primary bullish area of the chart, and
2. 1.3836 support level located near the border between the primary ranging bearish and the primary bullish trend.

Absolute Strength indicator is estimating the ranging condition to be continuing.

• The price is ranging within the following intermediate levels on the way to the key reversal ones: 1.3954 resistance and 1.3905 support levels.
• Ichimoku cloud/kumo and Senkou Span A line (which is the virtual border between the primary bullish and the primary bearish on the chart) is located near and below the price which makes the bearish reversal to be possible in the near future.
• Tenkan-sen line of Ichimoku indicator is above Kijun-sen line which is indicating the primary bullish market condition.
• Chinkou Span line is above the price for the secondary ranging by direction.
• Nearest support levels are 1.3905 and 1.3836.
• Nearest resistance levels are 1.3954 and 1.4022.

If the price will break 1.3836 support level on close H4 bar so the reversal to the primary bearish condition will be started with the secondary ranging: the price will be located inside Ichimoku cloud.
If the price will break 1.4022 resistance level so the primary bullish trend will be continuing.
If not so the price will be ranging between the levels.

• Recommendation for long: watch close price to break 1.4022 for possible buy trade
• Recommendation to go short: watch close price to break 1.3836 support level for possible sell trade
• Trading Summary: ranging

Resistance	Support
1.3954	1.3905
1.4022	1.3836

SUMMARY : ranging
TREND : bullish