Overview

Weekly price is located to be above 200 SMA and 100 SMA as well in the bullish area of the chart. The price was bounced from 55 SMA to above for the primary bullish trend to be started. For now, the price is trying to break the symmetric triangle pattern to above together with resistance at 1.3438 on the weekly close bar. Alternatively, the price will be on secondary ranging within s/r levels waiting for direction of the strong trend to be started. Recommendation: watch the weekly price to break the resistance level on close bar, otherwise - ranging for direction.

EURUSD Daily price is located above SMA with period 100 (100-SMA) and above SMA with the period 200 (200-SMA) for breaking the resistance levet at 1.1767 to above for the primary bullish trend to be continuing, other wise the price will be in secondary ranging within 1.1612/1.1767 support/resistance levels waiting for the direction of the secondary correction to the bearish trend to be started or for the bullish trend to be resumes. Recommendation: wait for the next daily bar to be closed above 1.1767 resistance for possible bullish.

W1 price is continuing with bullish trend: the price is located far from Ichimoku cloud in the bullish area of the chart. Chinkou Spam like is indicating the strong primary bullish trend; the price is trying to test resistance level at 64.64 to above for the bullish trend to be continuing. W1 timeframe: - if the price breaks the resistance at 64.64 to above on weekly close bar so the strong bullish continion will be continuing; - if not so the price will be on secondary ranging within s/r levels waiting for the direction of the secondary correction to be started or to the bullish trend to be resumes. Recommendation for long: watch close W1 price to break 64.64 for possible buy trade. Recommendation to go short: watch weekly close price to break 45.54 support level to below for possible sell trade. Trading Summary: primary bullish