Price put in a bullish close above the Yearly Pivot R1 which
suggest further gains in coming month. Still, price touched
the upper Kumo Cloud resistance and bounced, showing the
importance of this level. Also the 26 period projected Kumo cloud
made a bullish twist, setting the stage for a strong bullish
TK cross in coming months, if upward action continues.
Above 0,9680 stands HR at 0,99, but with a possible TK cross
price is likely to continue to the 61,8 of large CD leg at 1,0450
which also holds a horizontal resistance zone (marked red
in the chart). Downward action should be capped by the
Kijou sen around 0,93 and lower kumo cloud and Yearly
Pivot Point around0,9140-80 zone. However, it is more
likely to see support from lower tf.(weekly 0,95/0,9270)
and on Daily 0,9520/0,9370 (with rising kumocloud
ahead of price.) Very Important, is the strong TK cross that
occured on daily tf on friday 31 oct which adds to the bullish
scenario going forward.
suggest further gains in coming month. Still, price touched
the upper Kumo Cloud resistance and bounced, showing the
importance of this level. Also the 26 period projected Kumo cloud
made a bullish twist, setting the stage for a strong bullish
TK cross in coming months, if upward action continues.
Above 0,9680 stands HR at 0,99, but with a possible TK cross
price is likely to continue to the 61,8 of large CD leg at 1,0450
which also holds a horizontal resistance zone (marked red
in the chart). Downward action should be capped by the
Kijou sen around 0,93 and lower kumo cloud and Yearly
Pivot Point around0,9140-80 zone. However, it is more
likely to see support from lower tf.(weekly 0,95/0,9270)
and on Daily 0,9520/0,9370 (with rising kumocloud
ahead of price.) Very Important, is the strong TK cross that
occured on daily tf on friday 31 oct which adds to the bullish
scenario going forward.