Kumowizard

Hit resistance. Pull back now, which can be a buy opportunity

FX:EURGBP   Euro Fx/British Pound
109 1 3
Weekly:
- Trend is still bearish , Price tagged major trendline and 100 WMA. Ichimoku setup turned neutral, with bullish bias: price enterring Kumo, Tenkan/Kijun weak bullish .
- Heikin Ashi is bullish , but momentum may slow down as price faces a thick Kumo resistance.

Daily:
- Ichimoku setup is bullish until Price is above Kumo. However Chikou Span hit past Kumo resistance. 0,7400 +/- is a stronger resistance zone .
- Heikin-Ashi is losing bullish momentum . Last two candles had tighter range and last one is a doji . Negative divergence in haDelta.

We may see some correction to 0,72+ support zone (daily Kumo, daily Kijun, and weekly Kijun), where we will have to watch price action and look for a possible bullish signal. For now those who were short GBP may reduce some of their positions.
Piet.Hein
a year ago
Nice charts, well, Im already short on this one!

EURGBP Short - I
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