Then we have all inputs. So in which direction Price will finally move? Do you think anybody knows it? Nope, no one knows. They guess and bet, but no one knows. Let's seee what what the charts tell us.
- setup is turning into kind of neutral, but it still has some bias: future Kumo started to shade candle last week (0), Chikou hit past candles (0), Price, Tenkan and Kijun are still below Kumo (-), Price is between Tenkan and Kijun (0), Tenkan/Kijun cross is weak (+)
- Heikin Ashi pattern shows consolidation is in progress, picture is quite neutral: small red candles with both upper and lower wicks after very candle a week before. ( pls note this week has just started). haDelta/SMA3 swings around zero line.
- It has been building since reached 1,05 low.
- Neutral setup: Price back to Kumo and 100 support.
- Last attempt to break major downtrend line proved to be false. Watch if it succeeds next time! Price will feel very tight soon in this closing , has to break out and chose a direction finally
- Heikin Ashi may turn to again at supp/res level. Price is in the middle of the consolidation range (at equilibrium).
- Despite all the rather EURUSD news mentionned above, Price could not make a lower low in last three days.
- 1,1280-1,1400 zone will be very important for both Bulls and Bears.
As you see, it is a hard call, now. Until it holds above 1,10, I think there is still somehow a bit higher chance for the next wave to be again, but of course I would not place a huge bet on it right now. I need to see some more convincing signals. The hardest part in trading and investing sometimes is to simply stay away from it!
Maybe just look for some other instruments to trade, where we see a better risk/reward opportunity.