A little confused

[Magician]

Hi Guys while trying to understand price, came across this example, and I hope some one can explain this.
Eu-Us wkly we see price at mthly/wkly support, although below the 90SMA (green) and the 10 (white) & 30 (gold) EMA, we see price tried to close below 1.3039 but failed and close above.
Eu-Us 1hrly now we see price is below 1.3039 and is at resistance, 90SMA is also creating resistance, we see price did brk the 90sma but retraced to the 30Ema, the 10 and 30 are mixing it up, price is sideways, although price is sitting above the 30ema this isn't confirmed as MacD hasn't really pushed above the zero line.
So can we take from this that wkly price will brk the support it's sitting on, or will it bounce of and go long, ?
1st pic is the hrly

Kind Regards
Gary

[Easy Trader]

Originally Posted by Magician

Hi Guys while trying to understand price, came across this example, and I hope some one can explain this.
Eu-Us wkly we see price at mthly/wkly support, although below the 90SMA (green) and the 10 (white) & 30 (gold) EMA, we see price tried to close below 1.3039 but failed and close above.
Eu-Us 1hrly now we see price is below 1.3039 and is at resistance, 90SMA is also creating resistance, we see price did brk the 90sma but retraced to the 30Ema, the 10 and 30 are mixing it up, price is sideways, although price is sitting above the 30ema this isn't confirmed as MacD hasn't really pushed above the zero line.
So can we take from this that wkly price will brk the support it's sitting on, or will it bounce of and go long, ?
1st pic is the hrly

Kind Regards
Gary

My 1H feed closed above the 1.3039 for the week.The 1.3039 is a minor S/R on the hourly, which is 'market noise' to the weekly. The weekly S/R is the 1.30000 HUGE round number which to me is a 'zone' of historical order flow. The only 'real' information that we could get here is some sort of price action candle off of the 1.30000 and maybe some occilator divergence. Then the market would be showing us its likely intentions. Even then that is only good to the next S/R. All we know or anyone knows now is that the weekly failed to close below the 1.30000.