CapMoore

Price is Challenging Weekly R1. Levels to Watch

FX:EURUSD   Euro Fx/U.S. Dollar
32 0 2
Price is trading above the Kumo Cloud on all intraday charts
( bullish ) and below on daily/weekly/monthly timeframes
( bearish ). If the pattern will continue as it has previous
weeks, price will return down later in the week to close
below the Weekly Kijun Sen (this week at 1,0963). A daily
close above the Weekly R1 pivot, at 1,1022 will expose
Weekly R2 at 1,1083 and above that the Kumo Cloud twist
at 1,1140. Yesterdays daily close above the Daily Kijun Sen
(white line) is the first since 30th of June, and may hint that
price wants to advance a bit higher. 1,1126 high from July 28,
is important. If taken out we will have a higher low and a higher
high in place. From a Weekly perspective, 1,1193 (Monthly R1),
should cap price in a bearish trend .
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