![EURUSD Technical Analysis 2014, 30.11 - 07.12: Ranging Bearish With 1.2360 Support EURUSD Technical Analysis 2014, 30.11 - 07.12: Ranging Bearish With 1.2360 Support](https://c.mql5.com/6/211/splash-204864.png)
EURUSD Technical Analysis 2014, 30.11 - 07.12: Ranging Bearish With 1.2360 Support
![Sergey Golubev Sergey Golubev](https://c.mql5.com/avatar/2012/12/50D09349-3D90.jpg)
D1 price is on primary bullish market condition with ranging between 1.2599 resistance and 1.2360 support levels:
- The price is located below Ichimoku cloud/kumo with Senkou Span A line as the nearest kumo border
- The price is moving along trendline for downtrend with ranging condition
- Nearest support level is 1.2360
- Nearest resistance level is 1.2567
W1 price is on primary bullish market condition with the secondary rally just started on open W1 bar.
MN price
is on bearish breakout by breaking 1.2485 support level with Chinkou
Span line of Ichimoku indicator crossing the price from above to below
on open MN1 bar.
If D1 price will break 1.2360
support level so the primary bearish will be continuing
If D1 price will break
1.2599 resistance level so the secondary rally may be started within the
primary bearish with possible reversal to bullish condition
If not so we may see the ranging within bearish market condition.
- Recommendation for long: watch D1 price to break 1.2599 resistance for possible buy trade
- Recommendation
to go short: watch D1 price to break 1.2360 support level for possible sell trade
- Trading Summary: bearish
UPCOMING EVENTS (high/medium impacted news events which may be affected on EURUSD price movement for this coming week)
2014-12-01 08:15 GMT (or 10:15 MQ MT5 time) | [EUR - Spanish Manufacturing PMI]
2014-12-01 01:00 GMT (or 03:00 MQ MT5 time) | [CNY - Manufacturing PMI]
2014-12-02 08:00 GMT (or 10:00 MQ MT5 time) | [EUR - Spanish Unemployment Change]
2014-12-01 01:45 GMT (or 03:45 MQ MT5 time) | [CNY - HSBC Final Manufacturing PMI]
2014-12-01 15:00 GMT (or 17:00 MQ MT5 time) | [USD - ISM Manufacturing PMI]
2014-12-05 13:30 GMT (or 15:30 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 |
---|---|
1.2567 | 1.2485 |
1.2599 | 1,2360 |
1.2886 | N/A |
SUMMARY : bearish