Support - S1 : 83.552 | S2 : 82.701 | S3 : 82.145
Resistance - R1 : 84.959 | R2 : 85.515 | R3 : 86.366
Main Trend - Bearish
Intraday Trend - Bullish
Financial Announcements: USD - ISM Non-Manufacturing PMI
Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:
The price moves within the triangular formation and finds resistance by the
EMA (50). Also, is located at the upper channel of a bearish Andrews Pitchfork. We must note that EMA(50) and EMA(200) have between them downward cross.
The momentum is up, but the price does not persuade yet that has the power
to be found above important resistance levels and eventually to move at a higher
level by changing the main trend.
The area 84.000 – 84.388 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 85.045, 85.675, 85.970, 86.425, 86.900.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 83.635, 83.340, 83.000, 82.800.
The area 84.082 – 84.298 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 84.645, 85.040, 85.500, 85.787.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 83.680, 83.350, 83.000.
Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy. We note the need to use stop-loss levels.
You agree with our estimates? If you have another point of view, you can write your opinion in comments.
You can subscribe to one of the two subscription packages and take advantage of all benefits of the forex signals using one of the most sophisticated Forex Signals Copier, also from monitoring the live trading room, and of course from the full support in real time.
Resistance - R1 : 84.959 | R2 : 85.515 | R3 : 86.366
Main Trend - Bearish
Intraday Trend - Bullish
Financial Announcements: USD - ISM Non-Manufacturing PMI
Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:
The momentum is up, but the price does not persuade yet that has the power
to be found above important resistance levels and eventually to move at a higher
level by changing the main trend.
4H Chart
The area 84.000 – 84.388 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 85.045, 85.675, 85.970, 86.425, 86.900.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 83.635, 83.340, 83.000, 82.800.
1H Chart
The area 84.082 – 84.298 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 84.645, 85.040, 85.500, 85.787.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 83.680, 83.350, 83.000.
Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy. We note the need to use stop-loss levels.
You agree with our estimates? If you have another point of view, you can write your opinion in comments.
You can subscribe to one of the two subscription packages and take advantage of all benefits of the forex signals using one of the most sophisticated Forex Signals Copier, also from monitoring the live trading room, and of course from the full support in real time.
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