Relevance up to 11:00 2022-06-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Bulls are still trying to limit the current decline, so they continue to insist on the continuation of the rise and the restoration of positions. For this event to be a success and further prospects in the near future, it is necessary to overcome the resistance of the daily Ichimoku cross (1.0516 – 1.0568 – 1.0620 ), two resistances of the higher timeframes (1.0539 – 1.0643) and gain a foothold in the Ichimoku cloud (1.0568). The failure of the bulls may let bears resume the downward trend (1.0339–49).
H4 – H1
Yesterday's corrective movement managed to overcome the resistance of key levels. As a result, the advantage in the lower timeframes shifted to the side of the bulls. The key levels, located at the boundaries of 1.0510 (the central pivot point of the day) and 1.0466 (the weekly long-term trend), serve as supports and are currently trying to defend the interests of the bulls. If this succeeds, then the reference points for the rise from the higher timeframes will be added to the reference points of the lower timeframes at 1.0639 – 1.0730 – 1.0859 (resistances of classic pivot points).
In case of loss of key levels (1.0510 – 1.0466), the balance of power will once again be changed and the prospects for movement will again be aimed at restoring the downward trend, first on the lower timeframes (1.0359) and then on the higher ones (1.0349–39). Additional reference points will be the support of classic pivot points (1.0419 – 1.0290 – 1.0199 ).
Bulls continued to rise, as a result, the resistance of the daily Ichimoku death cross (1.2213 – 1.2266 – 1.2300 – 1.2386) is now being tested for strength. Breakdown and reliable consolidation above will open new horizons, which will be weekly levels (1.2511 – 1.2626) and entry into the daily and monthly Ichimoku cloud (1.2523 – 1.2678).
H4 – H1
At the moment, the advantage in the lower timeframes belongs to the bulls. The pair is now testing key levels—the central pivot point of the day (1.2264) and the weekly long-term trend (1.2184). Keeping them as supports will provide opportunities for bullish sentiment to develop. The next reference points for the continuation of the rise will be 1.2489 – 1.2629 – 1.2854. The loss of key levels will deprive the bulls of an advantage, which can contribute to increased activity and performance on the part of the opponent. Downward references today can be noted at 1.2124 – 1.1899 – 1.1759 (support of the classic pivot points).
In the technical analysis of the situation, the following are used:
higher timeframes – Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels
H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)