Mixed. Maybe ABC pattern to test 1,0875, maybe not.
Weekly:
- Ichimoku setup is bearish
- Heikin-Ashi was bearish last week, but candle closed above Tenkan Sen -> lost quite some momentum by end of week. It is too early to get any clue from this week's candle. If Bears can't take control, we'll have an inside candle and haDelta will turn up. haOscillator is above center line -> this is not bearish.
- EWI is bearish but we have to see this week's bar momentum.
- MACD is still in bearish consolidation.
- lower key is 1,0585, upper key is 1,0835 (Kijun) and 1,0966 (forward Senkou B, 100wma and trendline)
Daily:
- Ichimoku is neutral, everygthing is located in the Kumo cloud.
- Heikin-Ashi has small bearish bias, but if you look at haDelta and haDelta+, you can see it is only noise, nothing relevant. A sustained break below 1,0555 would be real bearish signal, which would bring a decisive candle and haDelta below center line.
- Upper key level to watch for a long entry is clear at 1,0675 (Kijun Sen)
- EWO has some bearish bias, but MACD is not bearish -> let's call both neutral.
Obviouly we can not tell from this setup which way EURUSD will break out finally.
However there is some chance for an ABC pattern, which in case confirmed with a close above 1,0675, would bring a price target to 1,0830-1,0875 resistance zone.
Since my portfolio has been very much underweight in EUR, my preference is to play the upper scenario in case of a buy signal at/above daily Kijun (1,0675). In bearish direction there are probably better EUR crosses to trade.
- Ichimoku setup is bearish
- Heikin-Ashi was bearish last week, but candle closed above Tenkan Sen -> lost quite some momentum by end of week. It is too early to get any clue from this week's candle. If Bears can't take control, we'll have an inside candle and haDelta will turn up. haOscillator is above center line -> this is not bearish.
- EWI is bearish but we have to see this week's bar momentum.
- MACD is still in bearish consolidation.
- lower key is 1,0585, upper key is 1,0835 (Kijun) and 1,0966 (forward Senkou B, 100wma and trendline)
Daily:
- Ichimoku is neutral, everygthing is located in the Kumo cloud.
- Heikin-Ashi has small bearish bias, but if you look at haDelta and haDelta+, you can see it is only noise, nothing relevant. A sustained break below 1,0555 would be real bearish signal, which would bring a decisive candle and haDelta below center line.
- Upper key level to watch for a long entry is clear at 1,0675 (Kijun Sen)
- EWO has some bearish bias, but MACD is not bearish -> let's call both neutral.
Obviouly we can not tell from this setup which way EURUSD will break out finally.
However there is some chance for an ABC pattern, which in case confirmed with a close above 1,0675, would bring a price target to 1,0830-1,0875 resistance zone.
Since my portfolio has been very much underweight in EUR, my preference is to play the upper scenario in case of a buy signal at/above daily Kijun (1,0675). In bearish direction there are probably better EUR crosses to trade.
