Range trading in the last five days, short term undecision.
Daily:
- Ichimoku setup is still bearish with supports at 1,1650 and 1,1850
- Slow Stoch points up a bit, MACD not yet confirming correction, but close to a bullish cross.
- DMI is bearish, ADX stuck at very high level, we may seem some decrease of bearish momentum
- last five Heiken Ashi candles clearly show undecision and consolidation, with haDelta and SMA3 being flat exactly at zero line, the Oscillator is still bearish. Price should break above Tenkan Sen to open space for a possible correction towards Kijun Sen.
4 Hrs:
- Absolutely neutral now: flat Tenkan and Kijun, Price is in the Kumo, trades exactly at Tenkan and Kijun, Chikou is a price candles, DMI has no trend signal, ADX very low.
- No Heiken Ashi candle signals, and haDelta + Oscillator not clear either
So what to do now? Do nothing! Just watch the levels: lower supp/res at 1,1250, more importantly higher supp/res is at Kumo and 100 WMA 1,1390-1,1420.
Most of people have been waiting for some kind of correction in EURUSD. Maybe it is around the corner, but for better risk-reward we should see a break above 1,1400.
Daily:
- Ichimoku setup is still bearish with supports at 1,1650 and 1,1850
- Slow Stoch points up a bit, MACD not yet confirming correction, but close to a bullish cross.
- DMI is bearish, ADX stuck at very high level, we may seem some decrease of bearish momentum
- last five Heiken Ashi candles clearly show undecision and consolidation, with haDelta and SMA3 being flat exactly at zero line, the Oscillator is still bearish. Price should break above Tenkan Sen to open space for a possible correction towards Kijun Sen.
4 Hrs:
- Absolutely neutral now: flat Tenkan and Kijun, Price is in the Kumo, trades exactly at Tenkan and Kijun, Chikou is a price candles, DMI has no trend signal, ADX very low.
- No Heiken Ashi candle signals, and haDelta + Oscillator not clear either
So what to do now? Do nothing! Just watch the levels: lower supp/res at 1,1250, more importantly higher supp/res is at Kumo and 100 WMA 1,1390-1,1420.
Most of people have been waiting for some kind of correction in EURUSD. Maybe it is around the corner, but for better risk-reward we should see a break above 1,1400.