👉🏻 Price has broken out of a falling wedge with a psychological zone at 1.20000. Few indicators have also signal for a long order:
Ichimoku - Breakout of the H4 cloud and trending on the D1 cloud. MACD - Moving Average crossover on H4 plus bullish histogram. TDI - H4 bullish bounce off the Bollinger Band, D1 crosses above yellow Market Base Line.
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Possible reaction zone
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2 entry running with profits
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Back to entry. Buy setup is still valid
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Trendline has been broken indicating an invalid setup for a Elliot Impulsive Wave. My bias to the upside has been shifted
My bias on the dollar has shifted over the weekend hence this is my view on EURUSD for the coming week. As for USDJPY, I have informed to close the trade with little profit in my own private group (~25 pips).
USDJPY has not retraced 'properly' back to its zone yet, and the price action is weird for USDJPY to be bullish from the CMP. So, if price does come down to the zone, the Elliot Wave count will be invalid.
Of course, all these will change and market doesn't always pick up from where it left off from every Friday. Hope this clears your doubt!