Support - S1 : 1.0777 | S2 : 1.0724 | S3 : 1.0638
Resistance - R1 : 1.0916 | R2 : 1.1001 | R3 : 1.1055
Main Trend - Neutral
Intraday Trend - Bearish
The exchange rate EURUSD remain in a sideway move on Daily chart. Studying the 4H chart of forex technical analysis, we can observe that the price close below EMA(50) and EMA(200). The price remains within the lower channel of Andrew's Pitchfork (blue lines). There is another Andrew's Pitchfork (green lines) and the price is near to the median line. We must consider as critical point the area where the median line of green Andrew's Pitchfork cross the lower line of blue Andrew's Pitchfork.
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 1.0879 – 1.0907 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0940, 1.0965, 1.1000, 1.1020, 1.1045, 1.1085.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0795, 1.0775, 1.0740, 1.0700.
The area 1.0841 – 1.0852 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0870, 1.0885, 1.0900, 1.0920, 1.0940.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0800, 1.0780, 1.0750, 1.0725, 1.0700, 1.0665.
There is a Bullish Harmonic Pattern on 4H chart: 0.786xAB=CD.
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 four subscription packages and take advantage of all benefits of the forex signals using one of the most sophisticated Forex Signal Copier, also from monitoring the live trading room, and of course from the full support in real time.
Resistance - R1 : 1.0916 | R2 : 1.1001 | R3 : 1.1055
Main Trend - Neutral
Intraday Trend - Bearish
The exchange rate EURUSD remain in a sideway move on Daily chart. Studying the 4H chart of forex technical analysis, we can observe that the price close below EMA(50) and EMA(200). The price remains within the lower channel of Andrew's Pitchfork (blue lines). There is another Andrew's Pitchfork (green lines) and the price is near to the median line. We must consider as critical point the area where the median line of green Andrew's Pitchfork cross the lower line of blue Andrew's Pitchfork.
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 1.0879 – 1.0907 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0940, 1.0965, 1.1000, 1.1020, 1.1045, 1.1085.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0795, 1.0775, 1.0740, 1.0700.
1H Chart
The area 1.0841 – 1.0852 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0870, 1.0885, 1.0900, 1.0920, 1.0940.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0800, 1.0780, 1.0750, 1.0725, 1.0700, 1.0665.
There is a Bullish Harmonic Pattern on 4H chart: 0.786xAB=CD.
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 four subscription packages and take advantage of all benefits of the forex signals using one of the most sophisticated Forex Signal Copier, also from monitoring the live trading room, and of course from the full support in real time.
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