CHART SCALE: W1 (Big Tf), D1 (Small tf)

INDICATORS: Parabolic Sar, Money Flow Index, Linear Regression Slope (LRS), Linear Regression Intercept (LRI), Regression Channel, SMA 200, SMA 9. Indicators are in DK standard setting.


The currency pair analysis is referring to 21/05/2018 at 12:00.
The currency pair is in a slightly selling behavior considering the Big Tf after the retracement at the support zone (Support Zone of the Regression Channel) as evaluated in fig 2.
Graphics analysis also seems to suggest the possibility of a secondary bearish and bullish retracements at the support line and at the resistance zone related with Pivot Point in W1, this can suggest that the zone between this R2, S2 of Pivot Point in W1 can be considered as a possible trendless objective. This trendless Area could be a suggestion for the forecast of the technical analysis
LR Slope indicator, the MFI and the configuration of the Parabolic Sar seem to support the trendless tendency.
LRI and the Regression Channel of the Small tf indicates the slightly bearish tendency of the currency pair.
The macro-economy releases could indicates the possibility of a support to a trendless behavior , not indicating a preponderance of one.
In this context can be a key level price the secondary support zone around the Regression Channel level that could create a trendless zone of forecast.
A bullish or a bearish crossing of the Regression Channel (indicated in fig 2) of the Big Tf can validate a significant bullish or bearish domination.
It can be evaluated as a possible forecast level, the price at 1.00535 that should resume the differences of the two currency forces.
Good trading to the Dukascopy Community.
FIGURE 1 indicates the Parabolic Sar, the MFI, the LRS, LRI and the tendency in the Big TF.

FIGURE 2 indicates the Parabolic Sar, the MFI, the LRS, LRI and the tendency in the Small TF.

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