Support - S1 : 1.5002 | S2 : 1.4976 | S3 : 1.4922
Resistance - R1 : 1.5083 | R2 : 1.5136 | R3 : 1.5163
Main Trend - Bearish
Intraday Trend - Bearish
Analyzing the 4H chart of forex technical analysis for the exchange rate GBPUSD you can observe that the price moves within the upper channel of Andrew's Pitchfork forming a local double bottom. EMA(50) and EMA(200) have a downward cross between them and price remain below.
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 1.5068 – 1.5089 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.5135, 1.5155, 1.5175, 1.5200, 1.5235, 1.5265.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.4975, 1.4910, 1.4860, 1.4800.
1H Chart
The area 1.5041 – 1.5051 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.5065, 1.5080, 1.5095, 1.5120, 1.5135.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.5010, 1.4990, 1.4955, 1.4930.
On 4H chart, there is a Bullish Harmonic Pattern: A Butterfly [.447/1.618/1.618].
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.
No comments:
Post a Comment