Few of you asked my view about EURUSD.
The long term picture is absolutely neutral and unclear for me, as I wrote in the post below. It is just trading in a tight range. Maybe looking at the whole structure (weekly chart, not shown here), I'd say 55 % chance it will continue bullish.
Short term we have slightly bullish picture, but also absolute lack of momentum. These short term moves are rather stop driven I think.
Daily:
- Price is above Kumo and Kijun, so bias is bullish, but Ichimoku structure is rather neutral as all averages are flat.
- Heikin-Ashi showd strong bullish momentum in last few days, but yesterday candle had a longer wick (means end of day profit taking). haDelta, and also haOscillator shows buyers are not fully committed.
- EWO is in bullish territory, but until values are so low, we can't talk about a trend.
4H:
- Ichimoku structure favors Bulls, with stop below 1,1185.
- Heikin-Ashi is bullish, haOscillator is above zero.
- EWO is bullish, but should make a higher high for more confirmation
- Market needs some momentum. It is obvious, that 1,1300-1,1320 is the key level on the top side.
Based on the bullish bias, you have few choices here:
1. You avoid trading EURUSD until it shows clear signal above 1,1300
2. You trade small long with 1,1185 stop, but even in this case try to catch a dip to 1,1250, to improve expected initial risk/reward
Note: my position is 1/3 unit long from 1,1255 (opened during yesterday dip)
The long term picture is absolutely neutral and unclear for me, as I wrote in the post below. It is just trading in a tight range. Maybe looking at the whole structure (weekly chart, not shown here), I'd say 55 % chance it will continue bullish.
Short term we have slightly bullish picture, but also absolute lack of momentum. These short term moves are rather stop driven I think.
Daily:
- Price is above Kumo and Kijun, so bias is bullish, but Ichimoku structure is rather neutral as all averages are flat.
- Heikin-Ashi showd strong bullish momentum in last few days, but yesterday candle had a longer wick (means end of day profit taking). haDelta, and also haOscillator shows buyers are not fully committed.
- EWO is in bullish territory, but until values are so low, we can't talk about a trend.
4H:
- Ichimoku structure favors Bulls, with stop below 1,1185.
- Heikin-Ashi is bullish, haOscillator is above zero.
- EWO is bullish, but should make a higher high for more confirmation
- Market needs some momentum. It is obvious, that 1,1300-1,1320 is the key level on the top side.
Based on the bullish bias, you have few choices here:
1. You avoid trading EURUSD until it shows clear signal above 1,1300
2. You trade small long with 1,1185 stop, but even in this case try to catch a dip to 1,1250, to improve expected initial risk/reward
Note: my position is 1/3 unit long from 1,1255 (opened during yesterday dip)
