EURUSD Technical Analysis 05.01 – 12.01: Bearish Reversal …

EURUSD Technical Analysis 05.01 – 12.01: Bearish Reversal …

Chinkou Span line of Ichimoku indicator came to be very close to historical price ready for breakdown from above to be for possible price reversal on D1 timeframe from bullish to primary bearish market condition. The primary bearish is already going on for H4 timeframe and H1 timeframe. As to W1 so the correction within primary bullish may be started next week on open bar.

If the price will not break 1.3629 support level from above to below so we may see the ranging market condition with the price floating between 1.3535 and 1.3893

If

the price will break 1.3535 support level (which is one of kumo border) on close D1 bar – the
trend will be reversed to primary bearish

Recommendation for short: watch the price for breaking 1.3535 resistance level on D1 timeframe for possible short
Recommendation

to go short: n/a
Trading Summary: reversal

UPCOMING EVENTS (high/medium impacted news events which may be affected on EURUSD price movement for this coming week)

2014-01-06 08:15 GMT (or 19:15 MQ MT5 time) | [EUR – Spanish Services PMI]

2014-01-06 15:00 GMT (or 16:00 MQ MT5 time) | [USD – ISM Non-Manufacturing PMI]

2014-01-06 22:30 GMT (or 23:30 MQ MT5 time) | [USD – Fed Chairman Nomination]

2014-01-07 08:55 GMT (or 09:55 MQ MT5 time) | [EUR – German Unemployment]

2014-01-07 13:30 GMT (or 14:30 MQ MT5 time) | [USD – Trade Balance]

2014-01-08 10:00 GMT (or 11:00 MQ MT5 time) | [EUR – Unemployment Rate]

2014-01-08 13:15 GMT (or 14:15 MQ MT5 time) | [USD – ADP Non-Farm Employment Change]

2014-01-08 19:00 GMT (or 20:00 MQ MT5 time) | [USD – FOMC Meeting]

2014-01-09 01:30 GMT (or 02:30 MQ MT5 time) | [CNY – CPI]

2014-01-09 12:45 GMT (or 13:45 MQ MT5 time) | [EUR – Interest Rate]

2014-01-10 13:30 GMT (or 14:30 MQ MT5 time) | [USD – Non-Farm Employment Change]

Please note : some US (and CNY) high/medium impacted news events (incl speeches) are also affected on EURUSD price movement

Resistance
Support
1.3671
1.3629
1.3724
1.3592
1.3893
1.3535

SUMMARY : reversal

TREND : ranging

Intraday Chart

This article:  

EURUSD Technical Analysis 05.01 – 12.01: Bearish Reversal …

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