- setup is still . The most important to note, that Price have not closed above weekly Tenkan Sen (9 weeks average) for the last 47 candles (336 days) !!!! Once it does, that would bring a very sharp reversal and correction towards Kijun Sen (appr to 1,1400-1500 level)
- Last week it looked like a massive resumption started, but Price could not make a lower low. This week so far we have an inside body doji-like Heikin Ashi candle, with haDelta crossing back above SMA3 and attacking zero line. This is a clear signal of undecision and consolidation, not sure if an early signal for a possible start of a correction.
Please not that Tenkan Sen is down to 1,09 by now!!!
- setup continues to turn more neutral. Price stuck between Tenkan and Kijun, and all of of the average lines (Tenkan, Kijun, Senkou A and B) point flat. Chikou Span also hit Price candles. Looks like this market has lost its heavy bias.
- For the last three days Heikin Ashi candles show undecision too. Green, red, green pattern with both upper and lower wicks. haDelta/SMA3 may cross up again above zero line, so if Price closes above 1,0810 it will attack again the 1,09-1,10 zone.
My only advise is to trend followers and position traders this time: Reduce short exposure! This market stopped trending, clearly trades in a range, and who knows, maybe it wil trick most of people and finally will break back above 1,10. Can you immagine that surprise? How blind people have become after chasing a trend for 11 months? Most of them already forgot, how EURUSD was trading before. This was really a nice trend, but I think in the future we will see a lot more and swings.