Support - S1 : 134.036 | S2 : 133.559 | S3 : 133.142
Resistance - R1 : 134.930 | R2 : 135.347 | R3 : 135.824
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 in the lower channel of an upward Andrews Pitchfork and above the EMA (50) which functions as a support.
The EMA (50) and EMA (200) have a downward cross between them.
We will start to believe in a possible change of the trend if the price moved over the median line of the Andrews Pitchfork and the EMA (200). For this case, it is extremely necessary to increase the upside momentum.
The area 134.080 – 134.364 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 135.100, 135.300, 135.550, 135.900, 136.500.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 133.600, 133.400, 133.100.
The area 134.390 – 134.538 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 134.790, 134.950, 135.100, 135.560, 135.800.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 134.124, 133.950, 133.820, 133.550, 133.430.
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 : 134.930 | R2 : 135.347 | R3 : 135.824
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 EMA (50) and EMA (200) have a downward cross between them.
We will start to believe in a possible change of the trend if the price moved over the median line of the Andrews Pitchfork and the EMA (200). For this case, it is extremely necessary to increase the upside momentum.
4H Chart
The area 134.080 – 134.364 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 135.100, 135.300, 135.550, 135.900, 136.500.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 133.600, 133.400, 133.100.
1H Chart
The area 134.390 – 134.538 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 134.790, 134.950, 135.100, 135.560, 135.800.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 134.124, 133.950, 133.820, 133.550, 133.430.
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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