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EUR/USD Intra-Day Technical Analysis - ranging on the border with reversal

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by , 01-26-2016 at 06:30 AM (967 Views)
      
   
M5 price is on bullish ranging near and above SMA with period 100 (100 SMA) and SMA with the period 200 (200 SMA) on the border between the primary bearish and the primary bullish trend on M5 intra-day chart. The price is located within 1.0859 resistance and 1.0840 support with RSI indicator estomating the ranging bullish trend to be continuing in the near future.

  • If the price will break 1.0859 resistance level so the bullish trend will be continuing.
  • If price will break 1.0840 support to below so the reversal from the primary bullish to the primary bearish trend will be started.
  • If not so the price will be ranging within the levels.

Resistance
Support
1.0859 1.0840
N/A
N/A

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  • Recommendation to go short: watch the price to break 1.0840 support level for possible sell trade
  • Recommendation to go long: watch the price to break 1.0859 resistance level for possible buy trade
  • Trading Summary: ranging

SUMMARY : ranging

TREND : bullish

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