I think EURUSD is ready for a bounce. Just like some other EUR crosses (check EURCAD, EURNOK and EURSEK for example), it seems EUR has some chance to gring higher from here.
Daily: Slow Stoch has been in oversold territory for some time, may turn up soon. DMI/ADX combo is interesting too. The main trend is and likely will be still bearish, but when ADX is so high and the upper DMI line crosses it, it is a good indication that the we might see a correction in the trend.
MACD lines converging as well, may show a bullish cross within few days.
4 Hrs: So far only the Heiken Ashi chart gives us warning signals. MACD and Slow Stoch up there with green HA candles. Also 9/26 EMA lines about to cross. In terns of Ichimoku, a counter trend acceleration can take place only with a clear break above 1,3670 Cloud top.
Summary: It can be a good risk reward trade to open Half trading unit countra long position, but minimum closing the shorts if you still have. Retracement can takep place as high as the daily Kijun Sen and the Kumo, so appr. to 1,3780 - 1,3800 levels. Don't forget, the daily time frame is confirmed bearish regarding Ichimoku. So if we get there, we will have to watch again for possible short entries again.
p.s.: while I was writing this post, price moved 15 pips up and on 1 Hr time frame gave a clear Ichimoku buy signal.
Daily: Slow Stoch has been in oversold territory for some time, may turn up soon. DMI/ADX combo is interesting too. The main trend is and likely will be still bearish, but when ADX is so high and the upper DMI line crosses it, it is a good indication that the we might see a correction in the trend.
MACD lines converging as well, may show a bullish cross within few days.
4 Hrs: So far only the Heiken Ashi chart gives us warning signals. MACD and Slow Stoch up there with green HA candles. Also 9/26 EMA lines about to cross. In terns of Ichimoku, a counter trend acceleration can take place only with a clear break above 1,3670 Cloud top.
Summary: It can be a good risk reward trade to open Half trading unit countra long position, but minimum closing the shorts if you still have. Retracement can takep place as high as the daily Kijun Sen and the Kumo, so appr. to 1,3780 - 1,3800 levels. Don't forget, the daily time frame is confirmed bearish regarding Ichimoku. So if we get there, we will have to watch again for possible short entries again.
p.s.: while I was writing this post, price moved 15 pips up and on 1 Hr time frame gave a clear Ichimoku buy signal.