mql5

Weekly price was on ranging market condition to be located above Ichimoku cloud in the bullish area of the chart. The price was started with the secondary breakout within the primary bullish trend in the beginning of January this year by breaking 3.0279 resistance level.

Price is breaking 3.0745 resistance for the bullish breakout to be continuing, and Absolute Strength indicator is estimating the bullish trend in a medium-term and a long-term situation for this pair.


If the price will break 2.8154 support level so the reversal of the price movement from the primary bullish to the primary bearish market condition will be started with the secondary ranging: the price will be located inside Ichimoku cloud in thius case.
If the price will break 2.5604 support level so the price will be fully reversed to the bearish condition without ranging.
If the price will break 3.0745 resistance level from below to above so the primary bullish trend will be continuing.
If not so the price will be ranging between the levels.

• Recommendation for long: watch close W1 price to break 3.0745 for possible buy trade
• Recommendation to go short: watch W1 price to break 2.8154 support level for possible sell trade
• Trading Summary: bullish

Resistance	Support
3.0745	2.8154
N/A	2.5604

Trend:

W1 - bullish breakout