Weely:
- Ichimoku is neutral, with price testing Kumo cloud top.
- Price is still below the earish trendline, wedge top.
- Weekly startegic key zone is clearly 1,0985-1,10. A close above would open space to 1,20.
What are the chances for a breakout?
- Longer term (within 3-5 months) I believe it will happen -> see Ichimoku structure (Tenkan/Kijun weak bullish cross) providing support for longer term bullish move
- However short term, Heikin-Ashi raises questions about momentum: haDelta and haOscillator are above their mid lines, but both crossed down. First we may see some consolidation or small pull back in coming weeks.
- MACD is still neutral
- EWO shows bullish bias
Daily:
- Bullish Ichimoku
- Bullish Heikin-Ashi signal, BUT haDelta+ and haOscillatr may get stuck below center lines --> this would happen if price action and momentum fades at/below 1,0985-1,10 key resistance.
- EWO is bullish, but we also have to watch it, as a lower high in itsvalue will show early signal for momentum loss
The good risk/reward buy zone would be 1,0690 - 1,0790. Obviously if it breaks out earlier, don't hesitate!
- Ichimoku is neutral, with price testing Kumo cloud top.
- Price is still below the earish trendline, wedge top.
- Weekly startegic key zone is clearly 1,0985-1,10. A close above would open space to 1,20.
What are the chances for a breakout?
- Longer term (within 3-5 months) I believe it will happen -> see Ichimoku structure (Tenkan/Kijun weak bullish cross) providing support for longer term bullish move
- However short term, Heikin-Ashi raises questions about momentum: haDelta and haOscillator are above their mid lines, but both crossed down. First we may see some consolidation or small pull back in coming weeks.
- MACD is still neutral
- EWO shows bullish bias
Daily:
- Bullish Ichimoku
- Bullish Heikin-Ashi signal, BUT haDelta+ and haOscillatr may get stuck below center lines --> this would happen if price action and momentum fades at/below 1,0985-1,10 key resistance.
- EWO is bullish, but we also have to watch it, as a lower high in itsvalue will show early signal for momentum loss
The good risk/reward buy zone would be 1,0690 - 1,0790. Obviously if it breaks out earlier, don't hesitate!