Support - S1 : 1.0835 | S2 : 1.0802 | S3 : 1.0751
Resistance - R1 : 1.0920 | R2 : 1.0970 | R3 : 1.1004
Main Trend - Neutral
Intraday Trend - Bearish
Applying all the rules of forex technical analysis on 4H chart for the exchange rate EURUSD we can observe that the price remains below EMA(50) and EMA(200), but the cross between them is upward. The price is moving within the upper channel of Andrew's Pitchfork (crimson lines).
Is very clear that the price is moving within a range from 38.2 - 50.0% Fibonacci retracement.
There are suspicions for a possible support around this area. If happens something like that, an upward move at 1.1050 and maybe more is very possible.
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:
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Resistance - R1 : 1.0920 | R2 : 1.0970 | R3 : 1.1004
Main Trend - Neutral
Intraday Trend - Bearish
Applying all the rules of forex technical analysis on 4H chart for the exchange rate EURUSD we can observe that the price remains below EMA(50) and EMA(200), but the cross between them is upward. The price is moving within the upper channel of Andrew's Pitchfork (crimson lines).
Is very clear that the price is moving within a range from 38.2 - 50.0% Fibonacci retracement.
There are suspicions for a possible support around this area. If happens something like that, an upward move at 1.1050 and maybe more is very possible.
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:
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