Daily: About two weeks ago EURSEK attempted a bearish Kumo break, which couldn't be succesful, as then the Kumo was too far below Price and relatively thick. Then we had a reversal signal and we saw a pullback to the Kumo, which now seems to act as a strong support/resistance. Now we have a new Heiken Ashi signal at the Kumo, calling for a possible bearish resumption.
- Slow Stoch sell signal, MACD couldn't really march higher, probably developing a bearish divergence. - Price is trading in the Kumo, a touch above Kijun Sen. Let's say Price is at equilibrium. - Tenkan/Kijun couldn't make their weak bullish cross. - Very important Heiken Ashi signal today! Small red body with upper and lower wicks + haDelta cross below SMA3
It is time to close longs if someone has been bullish on this pair, and time to start to build bearish positions. For a bearish confirmation we should see one more red candle with no upper wick and obviously a cross below Kijun Sen.
4 Hours: More signals lining up here as well suggesting a possible end of the bullish counter trend. - Red HA candles, however now short term turning neutral again with Price trading at 4H Kijun Sen (support until broken) - Chikou Span losing its open space, DMI crossing bearish with dropping ADX (-> bullish bias is out) - haDelta cross below SMA3, and the cross may send both lines further below zero level. - Ichimoku and trend setup is still bullish, so what we have to watch for now is if EURSEK can print a higher high above 9,50? If it can not, then we will slowly see breaking of lower supports (trendline, Kijun and probably later the 100WMA and the Kumo)
Strategy: Cut long, start building shorts on spikes. Stop for short positions need to be placed above 9,5350.