The price has a strong sell signal from the Ichimoku system.
Currently retreating to the Kumo Cloud to gain new momentum to the downside.
I would enter short once the green candles stop, with stop loss around 63.30 and my profit target around 58.20
The pair has been falling like a rock for a while. Now is the time for the reversal.
The price is at a great significant level with Kumo confirming bullish breakout.
However, I would not enter now and wait for further confirmation through breaking out of the downward base trend line.
Very strong confirmation of the bearish momentum change.
1. Price confirmed rebounding from the 1D channel top.
2. RSI-Price bearish divergence on the 1h
3. Kumo breakout confirmation (a. cloud change, bearish cross, Kajen Sen break out of cloud, and lagging price breaking out of the cloud as well).
The bulls are out of momentum at the top of the daily and weekly waves.
The price is showing bearish RSI-Price divergence on all time frames, and the Euro is started to weaken recently.
I would enter with a small amount and scale into the short once we get stronger confirmation of trend change.
The pair is approaching the Kumo cloud, which coincides with a dynamic resistance level.
Although the overall picture is bullish (after the sharp reversal at the fib 50%), I would not enter now and wait for a strong confirmation as following;
1. Price consolidates for a while until the future cloud turns green and the Kajen Sen comes closer to the current ...