Support - S1 : 1.0849 | S2 : 1.0786 | S3 : 1.071
Resistance - R1 : 1.0979 | R2 : 1.1047 | R3 : 1.1111
Main Trend - Neutral
Intraday Trend - Bullish
On 4H chart of forex technical analysis for the exchange rate EURUSD, we can observe that the price close on Friday on the median line of Andrew's Pitchfork (blue lines). At the same moment, there is another Andrew's Pitchfork (green lines) and the price close on the bottom of the lower channel. Price find support from this two Andrew's Pitchfork. EMA(50) and EMA(200) are exactly at the same point and offer a very strong support level.
Our estimation is that a pullback at area EMA(50) and EMA(200) is possible a great opportunity for a buy position with the first target around 1.1000 and the second target 1.1050 - 1.1070.
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 1.8862 – 1.0916 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0984, 1.1015, 1.1040, 1.1070, 1.1130.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0850, 1.0820, 1.0800, 1.0780, 1.0760, 1.0735, 1.0710.
The area 1.0921 – 1.0941 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0960, 1.0975, 1.0990, 1.1010, 1.1050, 1.1090, 1.1120.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0890, 1.0875, 1.0860, 1.0850, 1.0833, 1.0820, 1.0800, 1.0770.
There is a Bullish Harmonic Pattern on Daily chart: Henry.
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 Signals Copier, also from monitoring the live trading room, and of course from the full support in real time.
Resistance - R1 : 1.0979 | R2 : 1.1047 | R3 : 1.1111
Main Trend - Neutral
Intraday Trend - Bullish
On 4H chart of forex technical analysis for the exchange rate EURUSD, we can observe that the price close on Friday on the median line of Andrew's Pitchfork (blue lines). At the same moment, there is another Andrew's Pitchfork (green lines) and the price close on the bottom of the lower channel. Price find support from this two Andrew's Pitchfork. EMA(50) and EMA(200) are exactly at the same point and offer a very strong support level.
Our estimation is that a pullback at area EMA(50) and EMA(200) is possible a great opportunity for a buy position with the first target around 1.1000 and the second target 1.1050 - 1.1070.
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 1.8862 – 1.0916 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0984, 1.1015, 1.1040, 1.1070, 1.1130.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0850, 1.0820, 1.0800, 1.0780, 1.0760, 1.0735, 1.0710.
1H Chart
The area 1.0921 – 1.0941 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0960, 1.0975, 1.0990, 1.1010, 1.1050, 1.1090, 1.1120.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0890, 1.0875, 1.0860, 1.0850, 1.0833, 1.0820, 1.0800, 1.0770.
There is a Bullish Harmonic Pattern on Daily chart: Henry.
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 Signals Copier, also from monitoring the live trading room, and of course from the full support in real time.
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