Critical and fragile situation

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- Ichimoku is neutral
- Heikin-Ashi signal is bearish . While we did not see a lower low this week, haDelta/SMA still points down below zero, doesn't suggest reversal or massive drop in bearish momentum.
- EWO             is neutral
- Lower supp/res is 1,0955-1,0970 (spot Kumo bottom). If that breaks, market will have room to drop lot lower, testing 1,06 again.

- From 19th May to 22nd June we saw wild zig-zag in the neutral Kumo cloud. Market could not spike above cloud to reach a higher high, instead we saw a bearish Kumo break. -> Ichimoku setup is now bearish .
- Bearish supports and possible levels to look for sell signals are: 1,1170 (Kijun) or with better risk/reward 1,1250-1,1300 zone of 100wma and Kumo.
- Heikin-Ashi shows pull back after heavy bearsih action, however looking at the haDelta this pull back is xtremely weak so far! If Bulls can't even take back control up to 1,1250, we'll see a serious leg down again next week.

Do not buy this market. Not even for bounces! Instead look for sell signals only at the above mentioned levels!
Stop has to be placed at 1,1390.

p.s.: With all the sht European bonds trading at their all time lows, and the possible political turmoil for next several months in the EU, with a totally insolvant Italian banking system, and with largest German Bank ( DB             ) in a huge trouble, with an arrogant and not well organized ECB QE (killing more the otherwise bankrupt banks), etc.... tell me what can make Euro             attractive? It looks more and more a sell, not just technically, including other EUR ccy crosses, but also fundemtally. The only support still left is the EU's current account surplus.
Great stuff!
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