Support - S1 : 1.0872 | S2 : 1.0813 | S3 : 1.0715
Resistance - R1 : 1.1029 | R2 : 1.1127 | R3 : 1.1186
Main Trend - Bearish
Intraday Trend - Bearish
Applying all the rules of forex technical analysis on 4H chart for the exchange rate EURUSD we can easily observe that the price is moving within a channel (blue lines). On Friday, the price breaks downward and close out of the channel. EMA(50) and EMA(200) are above the price and give us the suspicion that a downward cross between them is coming.
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 1.0994 – 1.1023 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.1065, 1.1090, 1.1125, 1.1160, 1.1200, 1.1265.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0880, 1.0850, 1.0785, 1.0735, 1.0680.
The area 1.0945 – 1.0956 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0975, 1.0995, 1.1015, 1.1040, 1.1055.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0900, 1.0875, 1.0850, 1.0800.
There are Bullish Harmonic Patterns on the 4H chart: 0.382xAB=CD and on Daily chart: White Swan.
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 : 1.1029 | R2 : 1.1127 | R3 : 1.1186
Main Trend - Bearish
Intraday Trend - Bearish
Applying all the rules of forex technical analysis on 4H chart for the exchange rate EURUSD we can easily observe that the price is moving within a channel (blue lines). On Friday, the price breaks downward and close out of the channel. EMA(50) and EMA(200) are above the price and give us the suspicion that a downward cross between them is coming.
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 1.0994 – 1.1023 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.1065, 1.1090, 1.1125, 1.1160, 1.1200, 1.1265.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0880, 1.0850, 1.0785, 1.0735, 1.0680.
1H Chart
The area 1.0945 – 1.0956 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.0975, 1.0995, 1.1015, 1.1040, 1.1055.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0900, 1.0875, 1.0850, 1.0800.
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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