The price is tying a breakout of the Monthly Kijun level (purple line). At the same time the Lagging Span is trying to break its WKLY KS as well (yellow circle). On confirmation the price may keep going down and I have market some plausible targets.
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By projecting the Monthly Kumo on the chart I see that the price are now reaching the MLY SSA. The price is likely to react to that level.
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On the Weekly chart, the price broke the Monthly Kumo and the Lagging Span broke the Monthly Kijun Sen, which confirmed the downtrend movement.
The Weekly Lagging Span is getting closer to it's SSB where the price might react. This level could be a first TP level as well.
On the Weekly chart, the price broke the Monthly Kumo and the Lagging Span broke the Monthly Kijun Sen, which confirmed the downtrend movement.
Euro/USD looks to be in a lot of trouble ATM If it continues downward ive got a good looking POC target of 1.1215 that may move a little though not much I dont think. This pair could easily rally before nose diving properly also.
FoxTrading-Official
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@dipNrip90210, yes, that's why I always prefer to wait for the breakout confirmation first, probably by tomorrow. My invalidation point would be above the WLY Kijun.