An unlucky week for Europe Zone when EZ CPI continues falling down. from 0.9% -- 0.8% -- 0.7%. And ECB still affirm strongly that they don't care about low means DEFLATION.
Only Germany cannot drag entire EZ, ECB should not overconfidence about EZ economy now, if they just look at Germany.
ONE SWALLOW DOES NOT MAKE A SPRING.
In the long term, we still hold our believe about of E/U.
- Positive US economy and Negative EZ economy will drag E/U to fall down.
What we have on the chart now:
- Fib Retracement.
- 100 and SMA200
- Important levels.
There are 4 problems need to be considered now:
- Price need to break pattern.
- Price pierced SMA100 : Medium term level.
- Price is below Kumo cloud : is set up.
- Price broke 23.6% Fib retracement.
Tenkan Sen is being at 1.36 level.
The gap between Tenkan Sen and Kijun Sen wider -- Sell signal is more clearer particularly when price is below Kumo cloud.
I have two choices ( I draw on the chart) on the table now:
- SELL EURUSD at current price: Take profit : 1.34, Stop Loss at 1.37
- SELL LIMIT EURUSD at 1.3568 Take profit at 1.3455 Stop Loss at 1.37