mql5

M5 price is located near and above SMA with the period 200 (200-SMA) on the bullish market condition for the ranging on bearish reversal area waiting for the direction for the possible breakout or breakdown. The key reversal support/resistance levels for this pair are the following:

• 1.0992 resistance located far above 100-SMA/200-SMA in the primary bullish area of intra-day chart, and
• 1.0955 support level located far below 100-SMA/200-SMA in the primary bearish area.

RSI indicator is estimating the ranging trend to be continuing.

• If the price will break 1.0992 resistance level so the bullish trend will be continuing without secondary ranging.
• If price will break 1.0955 support so we may see the reversal of the price movement from the primary the bullish to the primary bearish market condition with the good possibility to the breakdown.
• If not so the price will be ranging within the levels.

Resistance	Support
1.0984	1.0959
1.0992	1.0955

• Recommendation to go short: watch the price to break 1.0955 support level for possible sell trade
• Recommendation to go long: watch the price to break 1.0992 resistance level for possible buy trade
• Trading Summary: ranging

SUMMARY : ranging

TREND : waiting for direction