Support - S1 : 0.7011 | S2 : 0.6974 | S3 : 0.6946
Resistance - R1 : 0.7077 | R2 : 0.7104 | R3 : 0.7142
Main Trend - Bullish
Intraday Trend - Bullish
Financial Announcements: USD - ISM Non-Manufacturing PMI
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 price up to now remains within the upper channel of a downward Andrews Pitchfork and is located above the EMA (50) and below the EMA (200) which have a downward cross between them.
Although there is strong evidence for increasing the upward momentum, we believe that it is very likely an initial correction before the price tried to move to higher levels.
From the strength of the anticipated correction, will depend on if finally will remain the upside momentum.
The area 0.7020 – 0.7043 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 0.7085, 0.7115, 0.7145, 0.7165, 0.7200.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 0.6980, 0.6955, 0.6935, 0.6900.
The area 0.7025 – 0.7035 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 0.7065, 0.7080, 0.7100, 0.7115.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 0.7010, 0.6990, 0.6975, 0.6960, 0.6945.
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 : 0.7077 | R2 : 0.7104 | R3 : 0.7142
Main Trend - Bullish
Intraday Trend - Bullish
Financial Announcements: USD - ISM Non-Manufacturing PMI
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:
Although there is strong evidence for increasing the upward momentum, we believe that it is very likely an initial correction before the price tried to move to higher levels.
From the strength of the anticipated correction, will depend on if finally will remain the upside momentum.
4H Chart
The area 0.7020 – 0.7043 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 0.7085, 0.7115, 0.7145, 0.7165, 0.7200.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 0.6980, 0.6955, 0.6935, 0.6900.
1H Chart
The area 0.7025 – 0.7035 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 0.7065, 0.7080, 0.7100, 0.7115.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 0.7010, 0.6990, 0.6975, 0.6960, 0.6945.
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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