Weekly (bearish to neutral): - Ichimoku setup is still bearish, but Chikou is getting close to past candle and Tenkan is very close to Kijun. Price is also very close to Tenkan and Kijun. So maybe the long term Ichimoku setup is slowly turning to neutral. - Heikin Ashi signal is bearish, but haDelta/SMA3 has some bullish divergence. Until this divergence exists, there is good chance that the 1,10 range bottom holds. Bears need to push it below 1,10 to get back in power, while short stops would accelerate after a close above 1,1310.
Daily (Neutral with slight bullish bias): - Ichimoku setup is neutral, after coudn't break below, Price is back into the Kumo. Tenkan and Kijun still above Kumo, Chikou hit past candles. Equilibrium price is ard 1,1135. - Price still trades within a tightenning triangle. - Heikin Ashi printed a doji candle yesterday, followed by a small green one today. HA Oscillator switched to bullish, haDelta/SMA3 up, flirting with zero line.
All in all it is still trading sideaway, not trending, so for me is neutral. It's like a coin toss, almost impossible to tell the next direction with high probability, but looking at daily Heikin Ashi, short tem the bias may be rather bullish.
Comments
HarryPotter
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after the move down howcome you say no direction LOL
Kumowizard
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What kind of move down? The past 12 months? Who cares? I played that and got out in time, no one is interested really in the past... in fact all people interested in the future, however everybody should focus on the present price action, compared to averages.
Do you understand trendfollowing systems? Do you trade daily and weekly charts or are you a 5-15 minutes trader? I follow Ichimoku and Heikin Ashi system. According to this model this pair is not trending, it is in a wider range. That's it.