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EUR/USD Intra-Day Technical Analysis - ranging within 100 SMA/200 SMA area for direction

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by , 01-19-2016 at 03:50 PM (916 Views)
      
   
H4 price is ranging within 100 period SMA (100 SMA) and 200 period SMA (200 SMA) waiting for the direction to break the levels.

The key reversal support/resistance levels for this pair are the following:

  • 50.0% Fibo resistance level at 1.0922 located near and above 200 SMA in the beginning of the bullish area of the chart, and
  • 1.0859 support level located below 100 SMA/200 SMA in the primary bearish area.

RSI indicator is estimatying the ranging bullish condition in the near future.

  • If the price will break 1.0922 resistance level so the bullish reversal will be started.
  • If price will break 1.0859 support so we may see the primary bearish market condition to be continuing without ranging.
  • If not so the price will be ranging within the levels.

Resistance
Support
1.0922 1.0859
1.0984 N/A

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  • Recommendation to go short: watch the price to break 1.0859 support level for possible sell trade
  • Recommendation to go long: watch the price to break 1.0922 resistance level for possible buy trade
  • Trading Summary: ranging

SUMMARY : ranging

TREND : waiting for direction

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