Support - S1 : 1.0719 | S2 : 1.0664 | S3 : 1.0616
Resistance - R1 : 1.0822 | R2 : 1.0870 | R3 : 1.0925
Main Trend - Bearish
Intraday Trend - Neutral
On 4H chart of forex technical analysis price continues to move within the lower channel of a downward Andrew's Pitchfork. Price remain below EMA(50) and EMA(200). A possible upward break of EMA(50) must consider as a first indication for a reaction.
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 area 1.0745 – 1.0775 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0810, 1.0870, 1.0935, 1.0995, 1.1025, 1.1070, 1.1095.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0675, 1.0625, 1.0570, 1.0500, 1.0470, 1.0380.
The area 1.0735 – 1.0747 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0795, 1.0815, 1.0830, 1.0865, 1.0885, 1.0915.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0715, 1.0690, 1.0670, 1.0600, 1.0560.
There is a Bullish Harmonic Pattern on Daily chart: A Shark.
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 : 1.0822 | R2 : 1.0870 | R3 : 1.0925
Main Trend - Bearish
Intraday Trend - Neutral
On 4H chart of forex technical analysis price continues to move within the lower channel of a downward Andrew's Pitchfork. Price remain below EMA(50) and EMA(200). A possible upward break of EMA(50) must consider as a first indication for a reaction.
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:
4H Chart
The area 1.0745 – 1.0775 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0810, 1.0870, 1.0935, 1.0995, 1.1025, 1.1070, 1.1095.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0675, 1.0625, 1.0570, 1.0500, 1.0470, 1.0380.
1H Chart
The area 1.0735 – 1.0747 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0795, 1.0815, 1.0830, 1.0865, 1.0885, 1.0915.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0715, 1.0690, 1.0670, 1.0600, 1.0560.
There is a Bullish Harmonic Pattern on Daily chart: A Shark.
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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