EUR/USD Intra-Day Technical Analysis - ranging within 100 SMA/200 SMA area for direction
by
, 01-19-2016 at 03:50 PM (925 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 Support1.0922 1.0859 1.0984 N/A
- 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