So, let's have a look at this chart, as it is really interesting, especially looking at Ichimoku.
4 Hrs timeframe: After first correction to Kumo last week (when I recommended usd longs to 80,40-80,50 tgt) px dropped back. No surprise as Kumo was too thick and its top was far away. Then we had a nice Kijun pullback with a bullis bar, as first indication bull might have been back soon. But we all know USD is a tricky one, so at next point it really confused me too, as seemed would print a Kijun Sen breakdown + Tenkan Kijun bearish cross below the Cloud, which in general is considered as a strong signal. But this how important the Chikou Span (lagging line is!). Chikou never came below the price candles to validate the bearish signal, what's more, the candle which pulled Tenkan below Kijun was actually a reversal hammer again. Yesterday massive up, with DMI crossing bullish, px crossed Kijun, Tenkan/Kijun bullish cross, px slightly above Kumo - Kumo breakout strategy will be confirmed above 80,50. Future Kumo is bullish again, Senkou A points up.
On the daily chart - MACD bullish cross, means a reversal for relatively longer term. DMI is about to do bullish cross.
BUY USD ON ANY DIPS!
4 Hrs timeframe: After first correction to Kumo last week (when I recommended usd longs to 80,40-80,50 tgt) px dropped back. No surprise as Kumo was too thick and its top was far away. Then we had a nice Kijun pullback with a bullis bar, as first indication bull might have been back soon. But we all know USD is a tricky one, so at next point it really confused me too, as seemed would print a Kijun Sen breakdown + Tenkan Kijun bearish cross below the Cloud, which in general is considered as a strong signal. But this how important the Chikou Span (lagging line is!). Chikou never came below the price candles to validate the bearish signal, what's more, the candle which pulled Tenkan below Kijun was actually a reversal hammer again. Yesterday massive up, with DMI crossing bullish, px crossed Kijun, Tenkan/Kijun bullish cross, px slightly above Kumo - Kumo breakout strategy will be confirmed above 80,50. Future Kumo is bullish again, Senkou A points up.
On the daily chart - MACD bullish cross, means a reversal for relatively longer term. DMI is about to do bullish cross.
BUY USD ON ANY DIPS!