Maybe a buy, maybe not. Lack of momentum.

79 0 12
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.

- 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.

- 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)
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener 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