EURUSD-20200418
• Trend’s Analysis
Term Trend
Short (STTL) Broken Mid Bearish
Mid (MTTL) Strong Bearish
Long(LTTL) Mid Bearish
o EURUSD_H4 broke above the Strong Bearish-LTTL1, at 1.09272, 34 candles ago. This is a bullish sign. This broken down trendline may now provide downside support. Volume on the candle of the breakout was quite light---51% below average. The most reliable breakouts are accompanied by increased volume. And with prices having only risen 0.58% since the breakout, the validity of the breakout is questionable.
o EURUSD_H4 broke below the Mid Bullish-MTTL1 at 1.09316,7 candles ago. This is a bearish sign. This up trendline may now provide upside resistance. Volume on the candle of the breakout was quite heavy--38% above average. This makes the breakout even more significant. If you decide to trade EURUSD_H4, you may want to place a stop loss just above the Broken Mid Bullish-MTTL1, in case the breakout is premature.
o The most recently confirmed down trendline in mid Term for EURUSD_H4 is Strong Bearish-MTTL. A break above this trendline (particularly on heavy volume) would be a bullish sign.
o The most recently confirmed down trendline in the long Term for EURUSD_H4 is Mid Bearish-LTTL. A break above this trendline (particularly on heavy volume) would be a bullish sign.
• Supports and Resistance
Supports Resistances
Price Power Price Power
1.08464 Weak/B 1.08836 Weak/B
1.07850 Weak/B 1.09645 Mid
1.07460 Very Weak/B 1.10209 Mid
1.06978 Weak/A 1.10552 Mid
1.06337 Mid 1.10908 Strong/B
o EURUSD_H4 broke below the downside support level of 1.09645, 16 candles ago. This is a bearish sign. This previous Support level of 1.09645 may now provide upside resistance. Volume on the Candle of the breakout was quite light --40% below average. The most reliable breakouts are accompanied by increased volume. If you decide to trade EURUSD_H4, you may want to place a stop loss just above the strong resistance level. A break above this level (particularly on heavy volume) would be a bullish sign.
o The most recently confirmed Upside resistance level for EURUSD_H4 is around 1.08836 Expect prices to have some difficulty rise this level.
o The support level for EURUSD_H4 is around 1.06337 Expect prices to have some difficulty falling below this level. A break below this level (particularly on heavy volume) will be a downward trend.
Term Trend
Short (STTL) Broken Mid Bearish
Mid (MTTL) Strong Bearish
Long(LTTL) Mid Bearish
o EURUSD_H4 broke above the Strong Bearish-LTTL1, at 1.09272, 34 candles ago. This is a bullish sign. This broken down trendline may now provide downside support. Volume on the candle of the breakout was quite light---51% below average. The most reliable breakouts are accompanied by increased volume. And with prices having only risen 0.58% since the breakout, the validity of the breakout is questionable.
o EURUSD_H4 broke below the Mid Bullish-MTTL1 at 1.09316,7 candles ago. This is a bearish sign. This up trendline may now provide upside resistance. Volume on the candle of the breakout was quite heavy--38% above average. This makes the breakout even more significant. If you decide to trade EURUSD_H4, you may want to place a stop loss just above the Broken Mid Bullish-MTTL1, in case the breakout is premature.
o The most recently confirmed down trendline in mid Term for EURUSD_H4 is Strong Bearish-MTTL. A break above this trendline (particularly on heavy volume) would be a bullish sign.
o The most recently confirmed down trendline in the long Term for EURUSD_H4 is Mid Bearish-LTTL. A break above this trendline (particularly on heavy volume) would be a bullish sign.
• Supports and Resistance
Supports Resistances
Price Power Price Power
1.08464 Weak/B 1.08836 Weak/B
1.07850 Weak/B 1.09645 Mid
1.07460 Very Weak/B 1.10209 Mid
1.06978 Weak/A 1.10552 Mid
1.06337 Mid 1.10908 Strong/B
o EURUSD_H4 broke below the downside support level of 1.09645, 16 candles ago. This is a bearish sign. This previous Support level of 1.09645 may now provide upside resistance. Volume on the Candle of the breakout was quite light --40% below average. The most reliable breakouts are accompanied by increased volume. If you decide to trade EURUSD_H4, you may want to place a stop loss just above the strong resistance level. A break above this level (particularly on heavy volume) would be a bullish sign.
o The most recently confirmed Upside resistance level for EURUSD_H4 is around 1.08836 Expect prices to have some difficulty rise this level.
o The support level for EURUSD_H4 is around 1.06337 Expect prices to have some difficulty falling below this level. A break below this level (particularly on heavy volume) will be a downward trend.
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