Support - S1 : 1.0835 | S2 : 1.0802 | S3 : 1.0751
Resistance - R1 : 1.0920 | R2 : 1.0970 | R3 : 1.1004
Main Trend - Neutral
Intraday Trend - Bearish
Applying all the rules of forex technical analysis on 4H chart for the exchange rate EURUSD we can observe that the price remains below EMA(50) and EMA(200), but the cross between them is upward. The price is moving within the upper channel of Andrew's Pitchfork (crimson lines).
Is very clear that the price is moving within a range from 38.2 - 50.0% Fibonacci retracement.
There are suspicions for a possible support around this area. If happens something like that, an upward move at 1.1050 and maybe more is very possible.
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 1.0888 – 1.0918 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0947, 1.0975, 1.0990, 1.1020, 1.1045, 1.1070, 1.1100.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0825, 1.0800, 1.0750, 1.0730.
The area 1.0870 – 1.0886 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0895, 1.0910, 1.0930, 1.0945.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0835, 1.0800, 1.0780, 1.0750, 1.0730.
There is a Bullish Harmonic Pattern on 1H chart: 1.272xAB=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 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 : 1.0920 | R2 : 1.0970 | R3 : 1.1004
Main Trend - Neutral
Intraday Trend - Bearish
Applying all the rules of forex technical analysis on 4H chart for the exchange rate EURUSD we can observe that the price remains below EMA(50) and EMA(200), but the cross between them is upward. The price is moving within the upper channel of Andrew's Pitchfork (crimson lines).
Is very clear that the price is moving within a range from 38.2 - 50.0% Fibonacci retracement.
There are suspicions for a possible support around this area. If happens something like that, an upward move at 1.1050 and maybe more is very possible.
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 1.0888 – 1.0918 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0947, 1.0975, 1.0990, 1.1020, 1.1045, 1.1070, 1.1100.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0825, 1.0800, 1.0750, 1.0730.
1H Chart
The area 1.0870 – 1.0886 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0895, 1.0910, 1.0930, 1.0945.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0835, 1.0800, 1.0780, 1.0750, 1.0730.
There is a Bullish Harmonic Pattern on 1H chart: 1.272xAB=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 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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