Kumowizard

European equities trade neutral before NFP

FX:EUSTX50   Euro Stoxx 50 Index
49 1 0
Short term bullish idea worked yesterday, but later price action faded after briefly touching 3290 resistance. By now it is back to neutral.

- 4H Ichimoku setup is absolutely neutral: Price, Tenkan and Kijun all within Kumo, Chikou hit past candles. Price trades around equilibrium (Kijun Sen) (0)
- There is some possible short term bullish trend bias, and a medium bullish Tenkan/Kijun (+)
- Heikin Ashi is bearish biased, but for further bearish acceleration candles should continue printing new lows. (-)

- Bullish above 3245 and especially above 3290. Bearish below 3185.

I have no clue how it will move, but looking at other risk measuring instruments and drivers ( EURUSD             , Gold             , Oil             , EM ccys), I don't see the matrix as too bearish short term. Maybe 55-45 chance that equities will catch up and trade higher by the end of the day, but this is not enough to bet, and we are not gamblers. Stay tuned, place your stop buy and/or stop sell orders, and trade when you see a reliable signal.
Bearish break.
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