EURUSD - Trade 1,10 - 1,15 range. Buy at support zone
Weekly:
- We saw first wave of the pull back, which got stopped slightly below weekly Kijun Sen. Ichimoku setup is less bearish, but still bearish.
- Heikin Ashi candle this week signals some undecision has started. Candle has both upper and lower wick, and a still green body within previous candle body. haDelta reached extreme high, so a pull back from weekly bearish support (1,1450-1,1500) was not surprising at all. haDelta/SMA3 crossed down, so we may see a few more weeks of wide range trading and hesitation.
- I think Kijun will act as strong support/resistance for the next few weeks, and as Tenkan and Kijun far from each other, it looks like EURUSD can trade between these two boundaries.
Daily:
- Ichimoku setup is BULLISH on this time frame. Don't trade the ECB guys' comments (ECB is the most "..." central bank of all, to let mkt frontrun them for 8-10 months, and their communication and policy management is clearly far below efficient, etc.) but always trade the price action and tech setup. And the setup tells us, that after Kumo breakout this is the first pull back to bullish support zone of 1,10-1,11. Price is above Kumo and Kijun, Tenkan is far above Kijun, future Kumo is bullish, the only one left is the lagging line, Chikou Span, which however on the next move up can also break above the Kumo.
- Heikin Ashi started to signal possible exhaustion of selling. This USD strength vs EUR can become a few days miracle. Watch for buy signals! Start to re-enter, accumulate longs in the support zone.
- We saw first wave of the pull back, which got stopped slightly below weekly Kijun Sen. Ichimoku setup is less bearish, but still bearish.
- Heikin Ashi candle this week signals some undecision has started. Candle has both upper and lower wick, and a still green body within previous candle body. haDelta reached extreme high, so a pull back from weekly bearish support (1,1450-1,1500) was not surprising at all. haDelta/SMA3 crossed down, so we may see a few more weeks of wide range trading and hesitation.
- I think Kijun will act as strong support/resistance for the next few weeks, and as Tenkan and Kijun far from each other, it looks like EURUSD can trade between these two boundaries.
Daily:
- Ichimoku setup is BULLISH on this time frame. Don't trade the ECB guys' comments (ECB is the most "..." central bank of all, to let mkt frontrun them for 8-10 months, and their communication and policy management is clearly far below efficient, etc.) but always trade the price action and tech setup. And the setup tells us, that after Kumo breakout this is the first pull back to bullish support zone of 1,10-1,11. Price is above Kumo and Kijun, Tenkan is far above Kijun, future Kumo is bullish, the only one left is the lagging line, Chikou Span, which however on the next move up can also break above the Kumo.
- Heikin Ashi started to signal possible exhaustion of selling. This USD strength vs EUR can become a few days miracle. Watch for buy signals! Start to re-enter, accumulate longs in the support zone.