Bearish "game over" would happen above 1,1340!!!

FX:EURUSD   Euro / U.S. Dollar
591 1 16
1,1340 * 1,1340 * 1,1340 * 1,1340 * 1,1340 * 1,1340 * 1,1340 * 1,1340 !!!!!

- Kind of neutral Ichimoku setup, with weak bullish Tenkan/Kijun and weak bullish Chikou. Tenkan and Senkou A slightly points up.
- Extremely close to the long term strategic bearish trendline , whih is ard             1,1340 now!
- Horizontal key supp/res line also at 1,1340! Price penetrated it 6-8 times, since April/2014, but we never had a weekly close above.
- Heikin Ashi signal shows hesitation, but smoothed haDelta positive divergence still persist.

- Hesitation slightly below the thin Kumo. I'd say this Ichimoku setup is neutral, with Chikou Span exactly at past candles. Also forward Kumo (Senkou A and B) crosses has been making only noise. Let's say trading ard             equilibrium of 1,1250.
- Lower supp/res: 1,1080-1,1120, upper key level: 1,1340!!!!
- Look how tight space has become between channel bottom and major bearish trendline! A breakout will decide further action, but if the breakout happens on the topside and EURUSD             goes above 1,1340, this time it would trigger massive stops from strategic trendfollowing bears too! Not mentionning that lot of these long term strategic accounts would try to buy on dips to go long later, if they see a possibilitiy of new trend phase to start.
- Lot of noise in Heikin Ashi -> consolidation. Looks like some already tries to scale out of long term shorts, while some others try to protect 1,1300+ as much as possible.

The only thing both bulls and bears have to watch now is the critical 1,1340! If we have a close above that level, that will be a game changer. A quick move to 1,18-1,20 would follow such a trend break, then all dips later will be a buying opportunity.

Strategy: buy small (0,5-1 risk unit) long. Size up on a break above 1,1340. Initial stop for starting position is at 1,1100-.
Those who prefer western type of indicators, pls check classic daily MACD (26,12,9). If Price clears 1,1300-1,1350, MACD will deliver a bullish signal too!
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