Weekly: - Ichimoku setup is bullish, will be bullish until price stays above Kijun and Senkou B. However price got too far above Kijun Sen. - Heikin-Ashi last week already signalled loss of momentum. This week we had a massive follow through. Price dips below Tenkan, which has not happened so far in 2016! This is a big difference compared to first week of March. Price also hits SAR.
Daily: - Ichimoku setup changed to neutral: Kumo shades price, weak bearish Tenkan/Kijun cross and price is below Kijun. - Price reached second support at spot Kumo and 100WMA. Kumo is thick below, and should it be penetrated next week, I doubt price will drop through immediately. - Heikin-Ashi is firm bearish, with haDelta below zero line. - EWO is just turning bearish.
I think any spike to Tenkan and Kijun ard 0,7900 is a zone where we have to look for high probability sell setups! In case it collapses down to 0,77 or below, then we'll have to wait for a spike to 0,78+ to sell. Anyhow, it is important to sell spikes, as the downside given by weekly chart can be limited ard 0,75+, especially as Brexit vote date is getting closer.
Honestly I was so much focused on GBPUSD (which is also improving bullish) that I completely forgot to check EURGBP. I hope market gives a chance for an entry next week.
Kommentare
IvanLabrie
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I favored gbpchf long over eurgbp short since eurchf is in an uptrend. (went long 3 days ago)
That being said, I'm tempted to short this one too, waiting to get in.
That being said, I'm tempted to short this one too, waiting to get in.