Careful with shorts! Consolidation at key support
Bit more details to my morning post on Twitter.
Weekly:
- Ichimoku has bearish bias, but market must make a lower low and also break the major bullish trendline to validate a strategic bearish reversal of EURAUD.
- Heikin-Ashi signal is bearish, but close of this week will be very important. For now haDelta signals some loss of momentum ard 1,45 key supp/res.
- MACD and EWO are both bearish, suggests the major direction will be down. But this doesn't mean we can't have one more spike up to Kumo. (picture was similar in Marc-April 2015)
Daily:
- Bearish Ichimoku, with price continously far below Kijun.
- Heikin-Ashi signals consolidation. It shows loss of bearish momentum, and slight chance we'll have a pull back (not yet confirmed)
4H:
- No lower low for last few days. Ichimoku is turning more neutral. Weak bullish Tenkan/Kijun cross below Kumo.
- haDelta/SMA3 above zero line now, with green candle closing above Kijun Sen.
- EWO is ticking higher
- We have some chance for a spike, first key level is 1,4680. If that is cleared and mkt makes a higher high, then chance to develope a counter trend bullish action towards higher daily supp/res ard 1,49 +/-
For now just get cautious with EURAUD shorts (I think time to scale back AUD longs in general)
Weekly:
- Ichimoku has bearish bias, but market must make a lower low and also break the major bullish trendline to validate a strategic bearish reversal of EURAUD.
- Heikin-Ashi signal is bearish, but close of this week will be very important. For now haDelta signals some loss of momentum ard 1,45 key supp/res.
- MACD and EWO are both bearish, suggests the major direction will be down. But this doesn't mean we can't have one more spike up to Kumo. (picture was similar in Marc-April 2015)
Daily:
- Bearish Ichimoku, with price continously far below Kijun.
- Heikin-Ashi signals consolidation. It shows loss of bearish momentum, and slight chance we'll have a pull back (not yet confirmed)
4H:
- No lower low for last few days. Ichimoku is turning more neutral. Weak bullish Tenkan/Kijun cross below Kumo.
- haDelta/SMA3 above zero line now, with green candle closing above Kijun Sen.
- EWO is ticking higher
- We have some chance for a spike, first key level is 1,4680. If that is cleared and mkt makes a higher high, then chance to develope a counter trend bullish action towards higher daily supp/res ard 1,49 +/-
For now just get cautious with EURAUD shorts (I think time to scale back AUD longs in general)
