TechnoMeter

D1 price is located below 200 day SMA (200 SMA) and 100 day SMA (100 SMA) for the primary bearish market condition with the ranging near the border between the primary bearish and the primary bullish trend on the chart.

• The price is ranging between ranging between Fibo resistance level at 1.1059 and Fibo support level at 1.0520.
• The bullish reversal resistance level is 1.1059 Fibo resistance located above 200 SMA on the border between the bearish/bullish area of the daily chart.
• The bearish reversal support level is 1.0520 Fibo support located far below 100 SMA/200 SMA in the primary bearish area.
• Intermediate support level for the price to be broken on the way to the key bearish reversal support level is 50.0% Fibo support level at 1.0791.
• “The Euro may be establishing a top against the US Dollar as prices carve out what may turn out to be a bearish Head and Shoulders chart formation. The single currency found resistance below the 1.11 figure having launched a recovery following the ECB rate decision, as expected.”
• “A break below support in the 1.0777-1.0818 area to below will lead with the 38.2% level at 1.0602 as the next target. Alternatively, a reversal above a horizontal pivot at 1.0938 may be targeting with the December 15 high at 1.1060.”

If the price will break 50.0% Fibo support level at 1.0791 so the primary bearish trend will be continuing with Fibo support level at 1.0520 as the next bearish target.
If the price will break Fibo resistance level at 1.1059 from below to above on close daily bar so the reversal of the price movement from the primary bearish to the primary bullish market condition will be started.
If not so the price will be ranging within the levels.


more...