CapMoore

Consolidation after Breaking Trendline Support

FX:EURUSD   Euro Fx/U.S. Dollar
138 0 0
Price has tried to shift trend but was rejected by the
strong resistance just below 1,15 (Monthly PP,Yearly S1)
The trendline failed to support, as did the Kumocloud
price reached the lower cloud before finding support.
After a restest of TL , Kijun and Kumocloud resistance
price is now consolidating inside the cloud.
A close above the cloud will increase upward bias
and may expose previous high above 1,15. A close
below the Weekly PP at 1,1275 may expose Daily S2
and the upper band of the channel and ultimately
previous low.

Resistance:
Daily PP/Kumocloud 1,1380-85
TL/Kijun 1,14
Weekly R1 1,1435
Yearly S1Monthly PP 1,1465-90
Weekly R2/ABCD 1,1590

Support
Weekly R1/Daily PP 1,1440
Kijun Sen/Kumocloud 1,1385-95
Trendline
Kumocloud/Daily S1Weekly PP/HS 1,1285-65
Daily S2 1,1210
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