EURUSD intraday technical analysis consolidation

EURUSD intraday technical analysis – consolidation or reversal?

H4 (the price of the four-hour chart) – yesterday the price of the four-hour
timeframe was secondary rally upward movement as the local primary amid bearish trend. Price stopped near the resistance level of 1.0968, which is located near the ‘reversal’
line Senkou Span A, which
It is one of the boundaries of clouds Ichimoku and virtual boundary between
primary and primary bearish bullish
trends on the H4 chart. If the price exceeds the level of 1.0968 on the four-bar closed, the possible trend reversal in the primary with the secondary uplink multidirectional movement: the price for the pair will be above line Senkou Span A within the cloud Ichimoku:

  • Price is below
    clouds Ichimoku, which indicates the primary downtrend.
  • ‘Pivot’
    line Senkou Span A, 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 close to the price and not far from resistance level 1.0968,
    which makes a trend reversal in the primary bullish quite likely in the near future.
  • Values ​​Absolute Strength Indicator points to a continuation of the upward trend as the local market rally.
  • If the price breaks the level
    Resistance 1.0968, we may see a reversal in the primary trend upward multidirectional.
  • If the price breaks
    the support level 1.0807, the primary downtrend will continue with
    good intensity up to the formation of a new pair of ‘bottom’ as a
    a new level of support ( ‘Movement on trend‘).
  • If not, then the price will continue to move in different directions in the channel between the levels of 1.0968 and 1.0807 levels.
resistance levels
support levels
1.0968 (H4) 1.0807 (H4)
1.1034 (H4) N / A

EURUSD intraday technical analysis consolidation

  • Recommendation for long: Observation of the intersection of the resistance level of 1.0968 at the cost of a possible opening buy orders
  • Recommendation for short: At a penetration level of 1.0807 support is possible to open a sell order
  • Trading Summary: Consolidation in a narrow range

SUMMARY: mezhvezhy trend
TREND: a possible breakdown movement

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