The euro / dollar (EUR / USD) – short-term trends and trading ideas: in anticipation of the breakdown at the border turning
H4 (the price of the four-hour chart) – the price of the four-hour
timeframe is in a primary downtrend in the secondary multidirectional movement, moving below the Ichimoku cloud and about in the following key reversal levels of support and resistance:
- resistance level of 1.0689, which is above the line to the sea Ichimoku cloud in the primary upward trend on the intraday price and
- 1.0550 support level, is below the Ichimoku cloud at the primary downtrend.
‘Pivot’ line Sinkou Span, which
It is one of the boundaries of clouds Ichimoku and virtual boundary between
primary and primary bearish bullish
trends on the H4 chart is above and about the price, which makes an upward turn intraday highly likely in the near future.
There are intermediate levels of the pair of support / resistance on the way to the intraday price key turning level:
- 1.0637 resistance level that is within Ichimoku cloud; if the price crosses this level from the bottom up, we will see the beginning of the upward turn with secondary multidirectional movement and
- 1.0565 support level; If the price breaks this level, the next target will be a downward breakout level of 1.0550.
Absolute Strength Indicator indicates the possible continuation of the multidirectional trends.
- If the price breaks through the resistance level of 1.0689, we will see a reversal of the trend on the intraday ascending to
the possibility of rapid and abrupt break the resistance levels at prices way up.
- If the price breaks
support level of 1.0550, the primary upward trend will continue.
- If not, then the price will continue to move in different directions in the channel between the levels.
- Recommendation for long: Observation of the intersection of the resistance level of 1.0689 the price of a closed four-hour bar with a possible opening buy orders
- Recommendation for short: At a penetration level of 1.0550 support in a closed four-hour bar is possible to open a sell order
- Trading Summary: Possible reversal
SUMMARY: mezhvezhy trend
TREND: in anticipation of the breakdown at the border turning
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