mql5

Daily price is on primary bearish market condition for the ranging near and below 100 day SMA (100 SMA) and 200 day SMA (200 SMA) waiting for the direction within the following key reversal support/resistance levels:

• 1.1273 resistance level located above 100 SMA/200 SMA in the bullish area of the chart, and
• 1.0487 support level located below 100 SMA/200 SMA in the bearish area of the chart.

There are intermediate s/r levels for the daily price on the way to key reversal levels:

• 1.1059 resistance located on the border between the primary bearish and the primary bullish trend, and
• 1.0707 support level located on the bearish area.

RSI indicator is estimating the bearish condition to be continuing.

If the price breaks 1.0707 support level so the primary bearish will be continuing.
If the price breaks 1.1059 resistance level so reversal of the price movement from the primary bearish to the primary bullish trend will be started.
If not so the price will be ranging within the levels.

• Recommendation for long: watch close the price to break 1.1059 for possible buy trade
• Recommendation to go short: watch the price to break 1.0707 support level for possible sell trade
• Trading Summary: ranging bearish

Resistance	Support
1.1059	1.0707
1.1273	1.0487

SUMMARY : bearish

TREND : ranging