Weekly:
- Ichimoku picture has been changing to neutral: Kumo ahead shades price, Chikou hit past candles, Tenkan/Kijun weak bearish, but both lines are flat, Price stays below Kijun Sen.
- Heikin Ashi is still bearish biased, but smaller candles following each other in last three weeks show undecision
- Major uptrend line, spot Senkou A and future Senkou B define lower support. Actually 115,75 must hold, otherwise the long term trend and stretgic setup reverses.
On the other side, Bulls have to push it back above 121,75 to keep their hopes alive.
Daily:
- Ichimoku signals nothing, but undecision and lack of trend in short term: pair trades +/- around equilibrium level (appr. 120,20). Soon it should break out of the rectangle and the tightenning range marked by the short term downtrend line and the two possible uptrend lines
- Heikin Ashi signal shows only undecision. haDelta/SMA3 has been stuck to zero line.
Given the increasing fear on equity mkts I think the pair should move lower. I don't expect the USD either to stay too strong as FED rate hike is still a question.
- Ichimoku picture has been changing to neutral: Kumo ahead shades price, Chikou hit past candles, Tenkan/Kijun weak bearish, but both lines are flat, Price stays below Kijun Sen.
- Heikin Ashi is still bearish biased, but smaller candles following each other in last three weeks show undecision
- Major uptrend line, spot Senkou A and future Senkou B define lower support. Actually 115,75 must hold, otherwise the long term trend and stretgic setup reverses.
On the other side, Bulls have to push it back above 121,75 to keep their hopes alive.
Daily:
- Ichimoku signals nothing, but undecision and lack of trend in short term: pair trades +/- around equilibrium level (appr. 120,20). Soon it should break out of the rectangle and the tightenning range marked by the short term downtrend line and the two possible uptrend lines
- Heikin Ashi signal shows only undecision. haDelta/SMA3 has been stuck to zero line.
Given the increasing fear on equity mkts I think the pair should move lower. I don't expect the USD either to stay too strong as FED rate hike is still a question.
