Weekly:
- No change since my last comment. Weekly trend is still bearish. We have to check candle close and haDelta again on Friday close.
Daily:
- As 1190 held well twice, I adjusted the trendline to candle lows. It seems to be still intact
- Ichimoku setup is neutral/bearish. Chikou Span is below Price candles but still above past Kumo. Price finally could not make a break below prev horizontal key support to validate a bearish Kumo breakout. Upper supp/resistance is now seen at 1225 - 1237 area, marked by current and future Senkou B line.
- Heikin Ashi candle switches to bullish, with haDelta crossing back above SMA3 and attacking zero line.
4H:
- Ichimoku setup turns to neutral from bearish. First key level is 1215-1220. Second supp/res is at 1235.
- Heikin Ashi setup turned counter bullish, but given the Price still trading below Kumo, Tenkan is still below Kijun Sen and haDelta turns short term down, be cautious with timing and/or position sizing regarding swing long positions.
Summary: Based on daily and 4H charts a pull back to 1230-1235 is possible, especially after FED Chair Yellen's comment yesterday put USD on a corrective path finally.
However looking at the Weekly time frame, strategic bullish reversal can take place still only above 1280.
The technical picture is pretty similar to the one we've seen on 10Y T-Note futures yesterday. If you missed that idea and you are interested, you can check that post again as well on the link below.
p.s.: regarding USD FX crosses. I still think EURUSD and DXY is the worst field to play USD correction. You can make some there as well, but probably AUDUSD, GBPUSD, USDCAD, etc. have a lot better risk-reward. The EUR can stay under pressure in the future bcause of ECB money printing to be launched next month. Therefor if you bearish EUR, forget shorting EURUSD, go short rather EURAUD, EURCAD, etc.
- No change since my last comment. Weekly trend is still bearish. We have to check candle close and haDelta again on Friday close.
Daily:
- As 1190 held well twice, I adjusted the trendline to candle lows. It seems to be still intact
- Ichimoku setup is neutral/bearish. Chikou Span is below Price candles but still above past Kumo. Price finally could not make a break below prev horizontal key support to validate a bearish Kumo breakout. Upper supp/resistance is now seen at 1225 - 1237 area, marked by current and future Senkou B line.
- Heikin Ashi candle switches to bullish, with haDelta crossing back above SMA3 and attacking zero line.
4H:
- Ichimoku setup turns to neutral from bearish. First key level is 1215-1220. Second supp/res is at 1235.
- Heikin Ashi setup turned counter bullish, but given the Price still trading below Kumo, Tenkan is still below Kijun Sen and haDelta turns short term down, be cautious with timing and/or position sizing regarding swing long positions.
Summary: Based on daily and 4H charts a pull back to 1230-1235 is possible, especially after FED Chair Yellen's comment yesterday put USD on a corrective path finally.
However looking at the Weekly time frame, strategic bullish reversal can take place still only above 1280.
The technical picture is pretty similar to the one we've seen on 10Y T-Note futures yesterday. If you missed that idea and you are interested, you can check that post again as well on the link below.
p.s.: regarding USD FX crosses. I still think EURUSD and DXY is the worst field to play USD correction. You can make some there as well, but probably AUDUSD, GBPUSD, USDCAD, etc. have a lot better risk-reward. The EUR can stay under pressure in the future bcause of ECB money printing to be launched next month. Therefor if you bearish EUR, forget shorting EURUSD, go short rather EURAUD, EURCAD, etc.
