Weekly: - Ichimokui setup is still bearish, but price could not close below 0,7000 key resistance in the last 4 weeks - Heikin Ashi candles in last two weeks had small bodies and both upper and lower wicks. Their relative position showed bearish bias. Recent candle is hard to read a bit (not much price action so far early this week), but together with ha/Delta/SMA3 cross up at zero line it may suggest the bearish bias is decreasing, sellers are losing power.. haDelta/SMA3 has been developing a positive divergence compared to price, which on the other hand may be building a bullish wedge formation
Daily: - Ichimoku setup is turning towards neutral after a spike from a higher low, but Price is still below key levels: Kijun Sen at 0,7076, next area is 100 WMA and future Senkou B at 0,7130-0,7160 - Heikin Ashi is bullish, but we'd need some more momentum to break the 0,7075 at least
4H - Spike through Kumo and 100 WMA, followed by retest to 100 WMA this morning. We need one more confirmation for a bullish Kumo breakout criteria: price needs to close above 0,7075 and Chiou Span to make a bullish spike above past Kumo. - Heikin Ashi gives a bullish candle signal, haDelta/SMA3 cross up above zero line.
If we see some momentum gain and acceleration, short term bullish tgt is 0,7150
Comments
Kumowizard
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This position lasted for some time. Technically I should have not done it, but I decided to close my long today. Reason is simple: I hate being in too much position when "F"-class central bankers start talking... and we have Mr. Draghi on the scene tomorrow... I still have enough EUR exposure if he becomes HAWKISH! :-D
On the other hand I still hate GBP, I think it is even more overvalued than USD. Thinking about shorts vs NOK for example.
Kumowizard
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Closing price was 0,7347. There is still heavy Kumo resistance at/above 0,7400 on weekly chart.
On the other hand I still hate GBP, I think it is even more overvalued than USD. Thinking about shorts vs NOK for example.