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EURUSD Intra-Day Technical Analysis - ranging bullish along 'reversal' Senkou Span line

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by , 01-21-2016 at 11:47 AM (1146 Views)
      
   
H4 price is on bullish ranging on the border between the primary bullish and the ranging bearish to be moved near Ichimoku cloud along Senkou Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart.

  • Chinkou Span line is located near and above the price for the ranging condition by the direction.
  • Symmetric triangle pattern was crossed by the price to above for the possible bullish trend to be continuing.

Resistance
Support
1.0935 1.0834
1.0984 1.0804

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If H4 price will break 1.0804 support level on close H4 bar so the price will be reversed to the primary bearish market condition.
If H4 price will break 1.0984 resistance level so the bullish trend will be continuing without secondary ranging.
If not so the price will be ranging within the levels.

  • Recommendation for long: watch close H4 price to break 1.0984 for possible buy trade
  • Recommendation to go short: watch H4 price to break 1.0804 support level for possible sell trade
  • Trading Summary: ranging

SUMMARY : bullish

TREND : ranging

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