Support - S1 : 0.6398 | S2 : 0.6355 | S3 : 0.6327
Resistance - R1 : 0.6470 | R2 : 0.6498 | R3 : 0.6541
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 is located above the EMA (50) and EMA (200) which have α downward cross between them.
Also, it moves in the lower channel of an Andrews Pitchfork and find resistance by the median line.
It is very likely an initial correction to confirm and make strong all closest support levels.
In any case, it is obvious that there is an upward momentum.
The area 0.6398 – 0.6420 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 0.6470, 0.6490, 0.6520, 0.6565.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 0.6375, 0.6350, 0.6315, 0.6285, 0.6235.
The area 0.6418 – 0.6430 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 0.6467, 0.6485, 0.6500.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 0.6400, 0.6385, 0.6370, 0.6345, 0.6310.
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 : 0.6470 | R2 : 0.6498 | R3 : 0.6541
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:
Also, it moves in the lower channel of an Andrews Pitchfork and find resistance by the median line.
It is very likely an initial correction to confirm and make strong all closest support levels.
In any case, it is obvious that there is an upward momentum.
4H Chart
The area 0.6398 – 0.6420 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 0.6470, 0.6490, 0.6520, 0.6565.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 0.6375, 0.6350, 0.6315, 0.6285, 0.6235.
1H Chart
The area 0.6418 – 0.6430 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 0.6467, 0.6485, 0.6500.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 0.6400, 0.6385, 0.6370, 0.6345, 0.6310.
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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