Below is the technical chart of EURUSD currency pair on H4 time frame. For a change, this time, I’ve used Alligator technical indicator.
EURUSD Technical Chart
As you can see, the price closes below Alligator’s Lips i.e. Green line and EURUSD started its downtrend again.
Now, let us see the same chart using Doda Donchian, Doda-Bollinger Bands, Ichimoku and ADX Candles technical indicators.
Doda-Donchian gave last sell signal @1.16775 and after that It has moved about 143 pips and still counting. Do NOT take any long position whatever technical indicator you’re using till EURUSD is trading below Ichimoku – Kumo – which is its great resistance.
It’s immediate target and support is at 1.14950 as per Wolf Wave Theory.
Major Support Levels:
1.15158
1.14862
1.14382
Major Resistance Levels:
1.16117
1.16413
1.16892
