CapMoore

Price at Daily Ichimoku Support

FX:EURUSD   Euro Fx/U.S. Dollar
171 0 2
Price has hit daily Ichimoku support, made up of
the Kumo Cloud and the Kijun Sen (White line) after
bouncing off the 61,8 fib of the large CD leg in ABCD
pattern. This was also a tentative break of the trendline
that failed. Bulls should look for intraday signals to go
long based on this daily support level . Of course the Greek
situation is really important in any trading decision right
now, but for a pure technical trader fundamentals and
technicals have a peculiar and fascinating way of aligning.
1,1075-90 is the Pivot support below the Ichimoku Support.
Stops should be placed below this level, aiming for the
D level as target at 1,1775. Bears could play the Bearish
Kumo breakout on H4 timeframe with 1.0850 as an initial
target or trail it with the Kijun Sen, as is the normal way of
follow trend in the Ichimoku system. Another good option
is simply to wait for a resolution on the Greek situation
before making a trading decision.
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