Support - S1 : 1.5419 | S2 : 1.5396 | S3 : 1.5362
Resistance - R1 : 1.5475 | R2 : 1.5509 | R3 : 1.5532
Main Trend - Bullish
Intraday Trend - Bullish
In forex technical analysis on 4H chart, we observe two Andrew's Pitchfork (the big in blue color and the small in green color). Price is moving at the lower channel of blue Andrew's Pitchfork. At the same time is moving within upper channel of green Andrew's Pitchfork. Also is very important that price remains above EMA(50) and EMA(200), which have a golden cross (upward).
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 1.5436 – 1.5462 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.5500, 1.5575, 1.5636, 1.5690.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.5385, 1.5355, 1.5315, 1.5290, 1.5270, 1.5245, 1.5200.
The area 1.5441 – 1.5455 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.5485, 1.5525, 1.5550, 1.5570, 1.5600.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.5390, 1.5355, 1.5325, 1.5285, 1.5250.
In 4H chart there is a Bearish Harmonic Pattern - Nen Star.
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 : 1.5475 | R2 : 1.5509 | R3 : 1.5532
Main Trend - Bullish
Intraday Trend - Bullish
In forex technical analysis on 4H chart, we observe two Andrew's Pitchfork (the big in blue color and the small in green color). Price is moving at the lower channel of blue Andrew's Pitchfork. At the same time is moving within upper channel of green Andrew's Pitchfork. Also is very important that price remains above EMA(50) and EMA(200), which have a golden cross (upward).
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 1.5436 – 1.5462 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.5500, 1.5575, 1.5636, 1.5690.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.5385, 1.5355, 1.5315, 1.5290, 1.5270, 1.5245, 1.5200.
1H Chart
The area 1.5441 – 1.5455 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.5485, 1.5525, 1.5550, 1.5570, 1.5600.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.5390, 1.5355, 1.5325, 1.5285, 1.5250.
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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