Support - S1 : 1.5074 | S2 : 1.5036 | S3 : 1.4996
Resistance - R1 : 1.5153 | R2 : 1.5193 | R3 : 1.5231
Main Trend - Bullish
Intraday Trend - Bullish
Analyzing the 4H chart of forex technical analysis for the exchange rate GBPUSD, you will see that the price move upward of Andrew's Pitchfork (Blue lines). This Andrew's Pitchfork is still valid because the price remains below the trigger line (black line). For the better understanding of price action, we design another Andrew's Pitchfork (Crimson lines) and easily we observe that the price close between EMA(50) and EMA(200) and find resistant from the median line.
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 1.5069 – 1.5105 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.5155, 1.5180, 1.5230, 1.5285.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.5025, 1.4990, 1.4950, 1.4900.
The area 1.5100 – 1.5115 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.5155, 1.5190, 1.5230, 1.5265, 1.5320, 1.5350, 1.5400.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.5075, 1.5050, 1.5030, 1.5010, 1.4995.
There is no Harmonic Pattern at 1H and 4H charts.
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 : 1.5153 | R2 : 1.5193 | R3 : 1.5231
Main Trend - Bullish
Intraday Trend - Bullish
Analyzing the 4H chart of forex technical analysis for the exchange rate GBPUSD, you will see that the price move upward of Andrew's Pitchfork (Blue lines). This Andrew's Pitchfork is still valid because the price remains below the trigger line (black line). For the better understanding of price action, we design another Andrew's Pitchfork (Crimson lines) and easily we observe that the price close between EMA(50) and EMA(200) and find resistant from the median line.
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 1.5069 – 1.5105 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.5155, 1.5180, 1.5230, 1.5285.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.5025, 1.4990, 1.4950, 1.4900.
1H Chart
The area 1.5100 – 1.5115 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.5155, 1.5190, 1.5230, 1.5265, 1.5320, 1.5350, 1.5400.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.5075, 1.5050, 1.5030, 1.5010, 1.4995.
There is no Harmonic Pattern at 1H and 4H charts.
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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