Kumowizard

EURUSD - lower low or range to stay?

FX:EURUSD   Euro/U.S. Dollar
448 1 7
Weekly:
- Still very bearish on all front
- There is no chance for pull back until weekly Price is below Tenkan Sen (1,10)

Daily:
- Down again after flirting few times with 1,10+
- Now the question is if bears have enough power to push it more down and to make a lower low? If no lower low, then it will stuck in this wide range and will retest Kumo again.
- Key reversal level is 1,10 (Future Senkou B line)
- Heikin Ashi signal is still bearish , but for next few days we have to watch haDelta/SMA as there is some chance for a starting positive divergence.

Wait for more Heikin Ashi signals! Don't try to catch a "bottom" before you see at least a small chance for a reversal. The bearish weekly trend is still very strong!
Totally agree with waiting for confirmation. Trying to guess tops and bottoms is such a futile exercise.

Personally, I expect it to head lower because the overall trend is still bearish and atm bulls just seem super weak. ADX has dropped ever since they gained a bit of power and only started to tick up again once the bears gained a bit of power again.

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