Weekly:
- Ichimoku still has longer term bearish bias, but due to correction from tripple bottom, the momentum is gone again, and Price popped up to change picture rather neutral.
- Heikin Ashi candle is bullish, but again we have to be cautious with haDelta around zero!
- First supp/res reached at Tenkan Sen = 1,10+. Next and even stronger key level is the 1,11-1,12 area, which is also supported be long term bearish trendline
- EWO is still bearish. Long term picture will only change if Price closes above at least Kijun and EWO changes to green!
Summary: Weekly is still in a wide sideaway range, with neutral-like Ichimoku and short term bullish bias, however price reached some key supp/res.
Daily:
- As I pointed out several times, the market was expecting way too much from the ECB based on multi weeks BS-ing from the biggest taling head ever called Mario Draghi. The serious and dumb overpositionning caused extreme short squeeze, and let me say this was a normal reaction.
- Due to multi wave spikes in price, Ichimoku picture turned neutral: Thick Kumo shades Price ahead, Chikou Span hit past candles, Tenkan and Kijun closed in to almostv make a weak bullish cross.
- However Price reached a support/resistance level marked by 1,1030-1,1090 zone! This should block further gains, especially ahead of FED rate decision, which I am almost sure will bring the long waited hike!
- Heikin-Ashi candles are bullish, but after a print at extreme high haDelta already signals negative divergence!
- Price will likely test 1,08 (-) area before FED again.
Summary: If you followed me and my trade idea, this counter trend long worked extremely quick and extremely well. But I think until next week we are pretty much done. It is time to book profits and stay neutral... or maybe sell some to 1,08 +/- tgt.
FED I think WILL hike! They don't have any other choice. The question is how much will they do and how will they communicate. But it is too early to bet on this! You have to cross the bridge when you get there. Yes, it is possible that after FED EURUSD will spike again and will go to 1,13. That is also possible that next year we reach 1,20+... why not? But can you play these scenarios now? Of course you can not. You can play this setup, when there is a setup!
* * *
I have to share some other info here with you: I've been working on my own for the last 4 years! I was not employed by anybody, and I really enjoyed freedom and independence (self-dependence :-) ).
However lately I had an inquiry for a really challenging and interesting position from a company, in which I think I only have an upside. After 5 months of negotiations I accepted the job from 1st/December. This means I will have a lot of business development tasks and duties as a chief economist, so from 2016 probably I won't be as active here on Tradingview as before. But I will still publish major ideas. So you can still keep on following me, and gove feedbacks, which I really appreciate!
I also suggest you to follow me on Twitter, where I will likely post a bit more.
Also if anytime you have any requests, questions, or ideas, you can always reach me via Twitter @Kumowizard or e-mail me to kumowizard@gmail.com.
- Ichimoku still has longer term bearish bias, but due to correction from tripple bottom, the momentum is gone again, and Price popped up to change picture rather neutral.
- Heikin Ashi candle is bullish, but again we have to be cautious with haDelta around zero!
- First supp/res reached at Tenkan Sen = 1,10+. Next and even stronger key level is the 1,11-1,12 area, which is also supported be long term bearish trendline
- EWO is still bearish. Long term picture will only change if Price closes above at least Kijun and EWO changes to green!
Summary: Weekly is still in a wide sideaway range, with neutral-like Ichimoku and short term bullish bias, however price reached some key supp/res.
Daily:
- As I pointed out several times, the market was expecting way too much from the ECB based on multi weeks BS-ing from the biggest taling head ever called Mario Draghi. The serious and dumb overpositionning caused extreme short squeeze, and let me say this was a normal reaction.
- Due to multi wave spikes in price, Ichimoku picture turned neutral: Thick Kumo shades Price ahead, Chikou Span hit past candles, Tenkan and Kijun closed in to almostv make a weak bullish cross.
- However Price reached a support/resistance level marked by 1,1030-1,1090 zone! This should block further gains, especially ahead of FED rate decision, which I am almost sure will bring the long waited hike!
- Heikin-Ashi candles are bullish, but after a print at extreme high haDelta already signals negative divergence!
- Price will likely test 1,08 (-) area before FED again.
Summary: If you followed me and my trade idea, this counter trend long worked extremely quick and extremely well. But I think until next week we are pretty much done. It is time to book profits and stay neutral... or maybe sell some to 1,08 +/- tgt.
FED I think WILL hike! They don't have any other choice. The question is how much will they do and how will they communicate. But it is too early to bet on this! You have to cross the bridge when you get there. Yes, it is possible that after FED EURUSD will spike again and will go to 1,13. That is also possible that next year we reach 1,20+... why not? But can you play these scenarios now? Of course you can not. You can play this setup, when there is a setup!
* * *
I have to share some other info here with you: I've been working on my own for the last 4 years! I was not employed by anybody, and I really enjoyed freedom and independence (self-dependence :-) ).
However lately I had an inquiry for a really challenging and interesting position from a company, in which I think I only have an upside. After 5 months of negotiations I accepted the job from 1st/December. This means I will have a lot of business development tasks and duties as a chief economist, so from 2016 probably I won't be as active here on Tradingview as before. But I will still publish major ideas. So you can still keep on following me, and gove feedbacks, which I really appreciate!
I also suggest you to follow me on Twitter, where I will likely post a bit more.
Also if anytime you have any requests, questions, or ideas, you can always reach me via Twitter @Kumowizard or e-mail me to kumowizard@gmail.com.
