EURUSD-H4 - Trend analysis 2020/05/17
SYM: EURUSD-H4
Time: 2020/05/17 00:00:00 UTC
Trend Analysis
This analysis will be expired by taking place a week after this date or breaking the largest resistance, the smallest support or the long term trend.
• Trend’s Analysis
Term .................... Trend
Short (STTL).................... Mid Bullish
Mid (MTTL).................... Strong Bearish
Long(LTTL).................... Mid Bearish
o EURUSD_H4 broke below the Very Weak Bullish-LTTL at 1.08616, 127 candles ago. This is a Bearish sign. The volume on the candle of the breakout was quite heavy (38% above average). The previous Bullish Trend may now provide upside Resistance. This Line played a resistance role at 1.10157, 62 candles ago.
o The most recently confirmed Uptrend line in Very Long Term for EURUSD_H4 is Mid Bullish-LTTL. It was made at 1.06311, 240 candles ago, and confirmed at 1.07477,93 candles ago and confirmed again at 1.7727. A break below this trend line (particularly on heavy volume) would be a Bearish sign.
o EURUSD_H4 broke above the Strong Bearish-MTTL at 1.08230, 88 candles ago. This is a Bullish sign. The volume on the candle of the breakout was not heavy (Equal to average). The previous Bearish Trend may now provide downside Support.
o EURUSD_H4 broke above the Strong Bearish-LTTL2 at 1.09368, 36 candles ago. This is a Bullish sign. This Downtrend line may now provide downside Support. The volume on the candle of the breakout was Volume on the day of the breakout was so heavy (237% above average).
o EURUSD_H4 broke below the Strong Bullish-LTTM at 1.09000, 51 candles ago. This is a Bearish sign. The volume on the candle of the breakout was quite heavy (28% above average). The previous Bullish Trend may now provide upside Resistance.
o The most recently confirmed downtrend line in the Long Term for EURUSD_H4 is Mid Bearish-LTTL. It was made at 1.11439, 210 candles ago, and confirmed at 1.10193,62 candles ago. A break above this trend line (particularly on heavy volume) would be a Bullish sign.
o EURUSD_H4 broke above the Strong Bearish-MTTL at 1.08311, 20 candles ago. This is a Bullish sign. This Downtrend line may now provide downside Support. The volume on the candle of the breakout was Volume on the day of the breakout was heavy (57% above average).
o The most recently confirmed Downtrend line in Mid Term for EURUSD_H4 is Mid Bearish-MTTL. It was made at 1.09913,61 candles ago and confirmed at 1.08746,13 candle ago. A break below this trend line (particularly on heavy volume) would be a Bearish sign.
o The most recently confirmed Uptrend line in Short Term for EURUSD_H4 is Mid Bullish-STTL. It was made at 1.07719,7 candles ago and confirmed at 1.08051, 1 candle ago.
o The current market condition for EURUSD_H4 is: Bearish
• The close is currently below its 30 periods moving average. Prices broke below 30 periods moving average at 1.08298, 13 candles ago. This is a Bearish sign. The volume on the candle of the breakout was light (10% below average). This moving average line may now provide downside Resistance.
• The close is currently below its 90 periods moving average. Prices broke below 90 periods moving average at 1.08470, 131 candles ago. This is a bullish sign. The volume on the candle of the breakout was light (10% below average). This moving average line may now provide downside Resistance.
• The close is currently below its 200 periods moving average. Prices broke below 200 periods moving average at 1.8779, 51 candles ago. This is a bullish sign. The volume on the candle of the breakout was quite heavy (28% above average). This moving average line may now provide downside Resistance. This moving average played this role at 1.08777, 13 candles ago.
• Supports and Resistance
Supports
Price .................... Power
1.07850.................... Very Weak
1.07460.................... Extremely Weak
1.06978.................... Mid
1.06369.................... Mid
1.05404.................... Mid
• Supports
o EURUSD_H4 broke above the Upside Very Weak Resistance level of 1.07850, 93 candles ago. The previous resistance level of 1.07850 may now provide downside Support. This level played this role on 6 and 22 candles ago. The volume on the candle of the breakout was neither extremely heavy nor extremely light (4% above average).
o EURUSD_H4 broke above the Upside extremely Resistance level of 1.07460, 234 candles ago. The previous resistance level of 1.07460 may now provide downside Support. This level played this role on 64 candles ago. The volume on the candle of the breakout was heavy (96% above average). This level is important for traders.
o The most recently confirmed downside Mid Support level for EURUSD_H4 is around 1.06978. EURUSD_H4 broke above this level on 183 weeks ago. This level is important for traders. We will be expected that the price has some difficulties to break down this level. Break below this level (particularly on heavy volume) is a Bearish sign.
o The Second confirmed downside Mid Support level for EURUSD_H4 is around 1.06369. This level made on 240 candles ago. It is very important for traders. We will expect that price has some difficulties to break down this level. Break below this level (particularly on heavy volume) is a Bearish sign.
o The Third confirmed downside Mid Support level for EURUSD_H4 is around 1.05404. It is very important for traders. We will expect that price has some difficulties to break down this level.
• Resistances
Price .................... Power
1.08202.................... Very Weak
1.08836.................... Weak
1.09645.................... Mid
1.10209.................... Mid
1.10710.................... Strong
o EURUSD_H4 broke below the Upside Very Weak Support level of 1.08202, 1 candle ago. The previous Support level of 1.08202 may now provide downside Support. This level played this role on 2 candles ago. The volume on the candle of the breakout was heavy (60% above average).
o EURUSD_H4 broke below the Downside Weak Support level of 1.08836, 51 candles ago. The previous Support level of 1.08836 may now provide upside Resistance. This level played this role on 84 candles ago. This level is important for traders. The volume on the candle of the breakout was quite heavy (28% above average). We will be expected that the price has some difficulties to break down this level. Break below this level (particularly on heavy volume) is a Bearish sign.
o The most recently confirmed upside Mid Resistance level for EURUSD_H4 is around 1.09645. EURUSD_H4 broke below this level on 59 candles ago. The volume on the candle of the breakout was quite light (40% below average). We will be expected that the price has some difficulties to break up this level. Break below this level (particularly on heavy volume) is a Bullish sign.
o EURUSD_H4 broke below the Downside Mid Support level of 1.10209, 197 candles ago. The previous Support level of 1.10209 may now provide upside Resistance. This level played this role on 61 candles ago. The volume on the candle of the breakout was quite light (12% below average). We will be expected that the price has some difficulties to break down this level.
o The Second recently confirmed upside Strong Resistance level for EURUSD_H4 is around 1.1071. EURUSD_H4 broke down this level on 260 candles ago. The volume on the candle of the breakout was Heavy (91% below average). We will be expected that the price has some difficulties to break up this level. Break below this level (particularly on heavy volume) is a Bullish sign.
• Momentum Indicators
o Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 52.9701. This is not an overbought or oversold reading. The last signal was a Bullish, 6 candles ago.
o Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 49.52. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a Bearish, 60 candles ago.
o Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 23. This is not a topping or bottoming area. The last signal was a Bullish, 6 candles ago.
o MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9-period signal line. The last signal was a Bullish 2 candles ago.
Crossovers
Currently the MACD is Bullish since it is trading above its signal line. The MACD crossed above its signal line 2 candles ago. Since the MACD crossed its moving average, EURUSD_H4's price has decreased by 0.10% and has ranged from a high of 1.085 to a low of 1.079.
Overbought/Oversold
The MACD is not in an Overbought/Oversold range.
http://fxorbital.com/
This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. Orbital accepts no liability whatsoever for any loss arising from any use of this analysis or its contents.
Time: 2020/05/17 00:00:00 UTC
Trend Analysis
This analysis will be expired by taking place a week after this date or breaking the largest resistance, the smallest support or the long term trend.
• Trend’s Analysis
Term .................... Trend
Short (STTL).................... Mid Bullish
Mid (MTTL).................... Strong Bearish
Long(LTTL).................... Mid Bearish
o EURUSD_H4 broke below the Very Weak Bullish-LTTL at 1.08616, 127 candles ago. This is a Bearish sign. The volume on the candle of the breakout was quite heavy (38% above average). The previous Bullish Trend may now provide upside Resistance. This Line played a resistance role at 1.10157, 62 candles ago.
o The most recently confirmed Uptrend line in Very Long Term for EURUSD_H4 is Mid Bullish-LTTL. It was made at 1.06311, 240 candles ago, and confirmed at 1.07477,93 candles ago and confirmed again at 1.7727. A break below this trend line (particularly on heavy volume) would be a Bearish sign.
o EURUSD_H4 broke above the Strong Bearish-MTTL at 1.08230, 88 candles ago. This is a Bullish sign. The volume on the candle of the breakout was not heavy (Equal to average). The previous Bearish Trend may now provide downside Support.
o EURUSD_H4 broke above the Strong Bearish-LTTL2 at 1.09368, 36 candles ago. This is a Bullish sign. This Downtrend line may now provide downside Support. The volume on the candle of the breakout was Volume on the day of the breakout was so heavy (237% above average).
o EURUSD_H4 broke below the Strong Bullish-LTTM at 1.09000, 51 candles ago. This is a Bearish sign. The volume on the candle of the breakout was quite heavy (28% above average). The previous Bullish Trend may now provide upside Resistance.
o The most recently confirmed downtrend line in the Long Term for EURUSD_H4 is Mid Bearish-LTTL. It was made at 1.11439, 210 candles ago, and confirmed at 1.10193,62 candles ago. A break above this trend line (particularly on heavy volume) would be a Bullish sign.
o EURUSD_H4 broke above the Strong Bearish-MTTL at 1.08311, 20 candles ago. This is a Bullish sign. This Downtrend line may now provide downside Support. The volume on the candle of the breakout was Volume on the day of the breakout was heavy (57% above average).
o The most recently confirmed Downtrend line in Mid Term for EURUSD_H4 is Mid Bearish-MTTL. It was made at 1.09913,61 candles ago and confirmed at 1.08746,13 candle ago. A break below this trend line (particularly on heavy volume) would be a Bearish sign.
o The most recently confirmed Uptrend line in Short Term for EURUSD_H4 is Mid Bullish-STTL. It was made at 1.07719,7 candles ago and confirmed at 1.08051, 1 candle ago.
o The current market condition for EURUSD_H4 is: Bearish
• The close is currently below its 30 periods moving average. Prices broke below 30 periods moving average at 1.08298, 13 candles ago. This is a Bearish sign. The volume on the candle of the breakout was light (10% below average). This moving average line may now provide downside Resistance.
• The close is currently below its 90 periods moving average. Prices broke below 90 periods moving average at 1.08470, 131 candles ago. This is a bullish sign. The volume on the candle of the breakout was light (10% below average). This moving average line may now provide downside Resistance.
• The close is currently below its 200 periods moving average. Prices broke below 200 periods moving average at 1.8779, 51 candles ago. This is a bullish sign. The volume on the candle of the breakout was quite heavy (28% above average). This moving average line may now provide downside Resistance. This moving average played this role at 1.08777, 13 candles ago.
• Supports and Resistance
Supports
Price .................... Power
1.07850.................... Very Weak
1.07460.................... Extremely Weak
1.06978.................... Mid
1.06369.................... Mid
1.05404.................... Mid
• Supports
o EURUSD_H4 broke above the Upside Very Weak Resistance level of 1.07850, 93 candles ago. The previous resistance level of 1.07850 may now provide downside Support. This level played this role on 6 and 22 candles ago. The volume on the candle of the breakout was neither extremely heavy nor extremely light (4% above average).
o EURUSD_H4 broke above the Upside extremely Resistance level of 1.07460, 234 candles ago. The previous resistance level of 1.07460 may now provide downside Support. This level played this role on 64 candles ago. The volume on the candle of the breakout was heavy (96% above average). This level is important for traders.
o The most recently confirmed downside Mid Support level for EURUSD_H4 is around 1.06978. EURUSD_H4 broke above this level on 183 weeks ago. This level is important for traders. We will be expected that the price has some difficulties to break down this level. Break below this level (particularly on heavy volume) is a Bearish sign.
o The Second confirmed downside Mid Support level for EURUSD_H4 is around 1.06369. This level made on 240 candles ago. It is very important for traders. We will expect that price has some difficulties to break down this level. Break below this level (particularly on heavy volume) is a Bearish sign.
o The Third confirmed downside Mid Support level for EURUSD_H4 is around 1.05404. It is very important for traders. We will expect that price has some difficulties to break down this level.
• Resistances
Price .................... Power
1.08202.................... Very Weak
1.08836.................... Weak
1.09645.................... Mid
1.10209.................... Mid
1.10710.................... Strong
o EURUSD_H4 broke below the Upside Very Weak Support level of 1.08202, 1 candle ago. The previous Support level of 1.08202 may now provide downside Support. This level played this role on 2 candles ago. The volume on the candle of the breakout was heavy (60% above average).
o EURUSD_H4 broke below the Downside Weak Support level of 1.08836, 51 candles ago. The previous Support level of 1.08836 may now provide upside Resistance. This level played this role on 84 candles ago. This level is important for traders. The volume on the candle of the breakout was quite heavy (28% above average). We will be expected that the price has some difficulties to break down this level. Break below this level (particularly on heavy volume) is a Bearish sign.
o The most recently confirmed upside Mid Resistance level for EURUSD_H4 is around 1.09645. EURUSD_H4 broke below this level on 59 candles ago. The volume on the candle of the breakout was quite light (40% below average). We will be expected that the price has some difficulties to break up this level. Break below this level (particularly on heavy volume) is a Bullish sign.
o EURUSD_H4 broke below the Downside Mid Support level of 1.10209, 197 candles ago. The previous Support level of 1.10209 may now provide upside Resistance. This level played this role on 61 candles ago. The volume on the candle of the breakout was quite light (12% below average). We will be expected that the price has some difficulties to break down this level.
o The Second recently confirmed upside Strong Resistance level for EURUSD_H4 is around 1.1071. EURUSD_H4 broke down this level on 260 candles ago. The volume on the candle of the breakout was Heavy (91% below average). We will be expected that the price has some difficulties to break up this level. Break below this level (particularly on heavy volume) is a Bullish sign.
• Momentum Indicators
o Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 52.9701. This is not an overbought or oversold reading. The last signal was a Bullish, 6 candles ago.
o Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 49.52. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a Bearish, 60 candles ago.
o Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 23. This is not a topping or bottoming area. The last signal was a Bullish, 6 candles ago.
o MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9-period signal line. The last signal was a Bullish 2 candles ago.
Crossovers
Currently the MACD is Bullish since it is trading above its signal line. The MACD crossed above its signal line 2 candles ago. Since the MACD crossed its moving average, EURUSD_H4's price has decreased by 0.10% and has ranged from a high of 1.085 to a low of 1.079.
Overbought/Oversold
The MACD is not in an Overbought/Oversold range.
http://fxorbital.com/
This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. Orbital accepts no liability whatsoever for any loss arising from any use of this analysis or its contents.
Disclaimer
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