EURAUD - Is the corrective move close to end?
Always the higher time frame matters. Looking at purely the Ichimoku setup, EURAUD has reached a very strong support at 1,4350-1,4400.
Daily: Not much change since my last post. Please see the link below. (Note: actually I adjusted the downtrendline a bit, fitting it to candle peaks, not it is matching more the Kumo). In terms of Ichimoku strategy it is a sell level for this pair, with a tight stop to be placed above Kumo and/or the upper horizontal Key level.
Slow Stoch turning down, DMI and MACD a bit worrying. Stop has to be placed above 1,4510.
Lower resistance is 1,4180.
4 Hrs: Still in counter trend mode, but Tenkan, Kijun and Senkou lines started to flat out a bit. If 1,4410 holds it would likely turn down again in one or maybe in two steps.
Strategy: Based on daily small short is recommended here. Adding to short will make sense only if we see a sell signal again on 4 Hrs time frame too.
Daily: Not much change since my last post. Please see the link below. (Note: actually I adjusted the downtrendline a bit, fitting it to candle peaks, not it is matching more the Kumo). In terms of Ichimoku strategy it is a sell level for this pair, with a tight stop to be placed above Kumo and/or the upper horizontal Key level.
Slow Stoch turning down, DMI and MACD a bit worrying. Stop has to be placed above 1,4510.
Lower resistance is 1,4180.
4 Hrs: Still in counter trend mode, but Tenkan, Kijun and Senkou lines started to flat out a bit. If 1,4410 holds it would likely turn down again in one or maybe in two steps.
Strategy: Based on daily small short is recommended here. Adding to short will make sense only if we see a sell signal again on 4 Hrs time frame too.
