Further Upside Indicated by Ichimoku

FX:EURUSD   Euro Fx/U.S. Dollar
46 0 6
The Weekly Ichimoku is looking constructiveand price bounced off the Yearly pivot point
yesterday and pierced through the monthly pivot point without any resistance. Currently
testing the horizontal resistance and Weekly equilibrium line (white line). With a bullish
MACD crossing a few weeks back, we may see further upside. As the monthly trend is bearish
this may be a correction, but even so it may be deep and might challenge the 1,16 top going
forward. Alot of talk about USD strengthening ahead along with dovish ECB, have many traders
selling this bounce. With lowered rate hike expectations from the US, a short squeeze may play out.
First upward target from here is 1,1330, Monthly R1. If breached as Ichimoku indicator warns of,
next target is the 1,1450-1,15 level, were 1,1450 is a horizontal resistance level , marking the
range top of this 1,5 year consolidation.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out