CapMoore

Trading Plans and Important Level w Ichimoku Sell

FX:EURUSD   Euro Fx/U.S. Dollar
61 0 0
The outcome of Greek negotiations will determine the next
move in EurUsd             , which may end the congestion seen on monthly
timeframe and weekly/daily as well. The daily chart give us some
interesting information. Looking at the Kumo Cloud, we see that
the "future" has turned bearish and the lagging span is below
price. Thus a daily close below the Kumo Cloud would give a
clean bearish sell signal, which could be traded either using the
Kijun Sen as SL and trailing stop, or some pattern could be
used to look for targets.
A bearish scenario would target Monthly S1 at 1,0870 but it
would likely not hold PA, with a bearish resolution. Next important
support is found at the Monthly S2/Weekly S3 Pivot confluence at 1,06-1,0620.
Ofcourse, below the previous multi year low at 1,0467 stand the D point in the
large Butterfly Buy, at approximately 1,02

A bullish outcome may be rather muted because it is likely more priced in.
Above the trendline marked in the chart, we are looking at the Yearly S1
at 1,1465 and if 1,0819 isn't violated in whipsaw, the ABCD pattern
will still be in play with D-level at 1,1775 and 38,2 fib retracement at 1,1810.
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