Do not fight the trend. As we can see we are in a strong down trend despite the sideways motion today. Until we get a significant bull signal we are going to be looking for short opportunities. I believe if we hit 1.0815 then we can start taking our short positions. I think it would also be wise to wait until tomorrow to actually take any trades. I will release a...
All ichimoku signals point to bearish movement but the only thing that is concerning to me is the lack of momentum. The cloud is smaller then I would like. I am placing a sell stop @ 1.0975 to ensure downward movement.
EURUSD has been in a slight down trend fueled slightly by last weeks NFP data. If the down trend is correct then price should touch S2 then retrace back up to this weeks pivot point.
The DXY has been showing some positive growth this week thus far.
If i am correct then there is an opportunity for around 85 pips. A buy trade should be initiated after...
For those who are not familiar with this pattern it is a breakout pattern that attempts to filter out some of the "fake-outs". In this pattern price will break through our support in this case and will come back up to touch it as resistance one more time and then continue downward. If this set up completes, I would have your short positions at the ready!!