Eur/Usd Analysis 17.08.2015
invezted.com
Context:
Price is still compressed within resistance 14520 and support 05000 the trend is still down
Location:
price found support just shy of the "mean" at 08150 and found resistance at 12180
we basically trade in the middle and chop is expected
Price Action:
after the rejection of 12000 we trade towards the 50% retracement of the current rally at 10300
Conclusion:
intraday wise one should wait till the supplyline is broken and wait for a retracement to test the longside
till 12000 , however any lower high or a rejection at 12000 can be used as an entry to trade the short side
else wait for price to test the extremes again in this case 10000 / 08150 for sup. and 12180 / 14520 for res.
support:
10300
10000
08150
resistance:
12000
12180
14520
Context:
Price is still compressed within resistance 14520 and support 05000 the trend is still down
Location:
price found support just shy of the "mean" at 08150 and found resistance at 12180
we basically trade in the middle and chop is expected
Price Action:
after the rejection of 12000 we trade towards the 50% retracement of the current rally at 10300
Conclusion:
intraday wise one should wait till the supplyline is broken and wait for a retracement to test the longside
till 12000 , however any lower high or a rejection at 12000 can be used as an entry to trade the short side
else wait for price to test the extremes again in this case 10000 / 08150 for sup. and 12180 / 14520 for res.
support:
10300
10000
08150
resistance:
12000
12180
14520
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.