Kumowizard
Long

EURUSD - Question marks (maybe bullish question marks)

FX:EURUSD   Euro Fx/U.S. Dollar
418 1 9
Weekly:
- Ichimoku setup turning more neutral, Chikou Span gets close to hit past candles (26 weeks ago). Price could not break back below Kijun Sen (26 weeks average ) and Tenkan/Kijun is still in same weka bullish position.
- After Price initially moved to the South, finally it could not make a lower low. This week Heikin Ashi turns bullish-like again, but the week has just started. Price is still trading in a very tight range just around the 26 weeks average
- Watch Tenkan Sen as next supp/res at 1,1130. A close above that could send Price closer to 1,15

Daily:
- Neutral Ichimoku setup with a relatively thin Kumo cloud above price. Supp/res levcels: 1,1013 (Kijun Sen), 1,1059 (100 WMA), and most importantly 1,1130 at Kumo, which would also mean a bullish break of the triangle.
- Heikin Ashi has turned bullish again, but Price is stuck in triangle, which has become extremely tight. If this triangle breaks on the upper side, tgt             will be 1,1430-1,1500 area, up to the major downtrend line.

It is still not an easy call here, with a lot of question marks, but the whole picture and Price action I think shows slightly higher probability of a bullish wave to continue. Anyway, the reversal point and break level is ard 1,1120. Stop buy orders can accelerate above that.

p.s.: I am long outright and through October 1, 1400             Calls.
Kumowizard PRO
2 years ago
Bullish breakout attempt today
+1 Reply
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