Kumowizard
Long

Positive divergences in oversold market. Watch 1,0730!

FX:EURUSD   Euro Fx/U.S. Dollar
606 2 11
Daily:
- Ichimoku bearish , but Price still too far below Kijun -> oversold
- Heikin Ashi turns neutral. Positive divergence building in smoothed haDelta! Ticks up towards zero line.
- EWO has reached extreme low. The whole move from 1,1350 to 1,0650 can be considered as one big wave only. Should correct.

4H
- Very nice and clear bearish trendline which stays together with Kijun Sen, Future Senkou B and horizontal line. Ichimoku setup is still bearish , but future Kumo startes to shade spot price a bit.
- Heikin Ashi is neutral now, but still has bullish bias until haDelta is above zero. We have a positive divergence in smoothed haDelta here as well!
- EWO has built a huge positive divergence. Still below zero.

So the market still looks bearish , but we have a lot of positive divergences on both time frames, while I also think market is oversold. I did not mark this post "LONG" to call for an immediate buy in EURUSD             . I did it, because I think market may start a correction soon, and I'd like point out the level of possible reversal:

1,0730-50 -> Daily Tenkan and soon the SAR             + 4 Hours Horizontal, Kijun, Trendline and future Senkou B (soon 100 WMA too)
2use
a year ago
Indeed seen the same
Reply
paulDtrader
a year ago
Good work Kumo, thanks
Reply
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