mql5

M5 price was on the bullish breakout: the price crossed SMA with period 100 (100-SMA) and SMA with the period 200 (200-SMA) to above to be bounced from 1.0943 resistance level to start the ranging within the following support/resistance levels:

• 1.0902 support level located below 100 SMA/200 SMA in the beginning of the bearish area of the chart, and
• 1.0943 resistance level located above 100 SMA/200 SMA in the bullish area.

RSI indicator is estimating the ranging bullish condition to be continuing.

• If the price will break 1.0943 resistance level so the bullish trend will be continuing.
• If price will break 1.0902 support so the reversal of the price movement from the primary bullish to the primary bearish trend will be started.
• If not so the price will be ranging within the levels.

Resistance	Support
1.0938	1.0910
1.0943	1.0902

• Recommendation to go short: watch the price to break 1.0902 support level for possible sell trade
• Recommendation to go long: watch the price to break 1.0943 resistance level for possible buy trade
• Trading Summary: ranging

SUMMARY : ranging

TREND : bullish