![EURUSD Next Month Outlook - moved within the channel to be ready for breakout EURUSD Next Month Outlook - moved within the channel to be ready for breakout](https://c.mql5.com/6/669/splash-642700-1435314214.png)
EURUSD Next Month Outlook - moved within the channel to be ready for breakout
![Sergey Golubev Sergey Golubev](https://c.mql5.com/avatar/2012/12/50D09349-3D90.jpg)
W1 price is on bearish ranging market condition since end of April this year: price is moved within the channel of 1.1466 resistance and 1.0818 support levels with far below 'reversal' Senkou Span A line which is the border between primary bullish and the
primary bearish on the chart, and it makes the reversal to the primary bullish trend on weekly timeframe to be impossible at least for the coming month.
- if weekly price breaks 1.1466 resistance so we may see the market rally to be started as a local uptrend within the primary bearish market condition;
- if weekly price breaks 1.0818 support level so the primary bearish will be continuing without ranging;
- if not so the price will be moved within the channel of 1.1466 resistance level and 1.0818 support level;
- Nearest key support levels are 1.0818 (W1) and 1.0461 (MN1);
- Nearest key resistance levels are 1.1466 (W1) and 1.2886 (MN1).
Resistance | Support |
---|---|
1.1466 (W1) | 1.0818 (W1) |
1.2886(MN1) | 1.0461 (MN1) |
Trend:
- W1 - ranging bearish
- MN1 - ranging bearish