Do we like it or not, the big picture is still Neutral!
Weekly:
- Neutral Ichimoku. Everything is located in the spot Kumo cloud: Price, Tenkan and Kijun. Price is testing Kijun Sen, and uptrend line. The setup can not be called firm bearish until Price holds above 1,0975-1,1000! What's more, the forward Kumo still has a bullish bias.
- Heikin-Ashi signal has been bearish for the 4th week now. we may see some slowdown in momentum this week -> see haDelta/SMA3 cross, but it is very early to decide wether we see a breakdown later, or a reversal up.
- EWO is back to neutral.
Basically Bulls need a close above 1,1200, while Bears should push it below 1,1000 to see a real trend unfolding. Otherwise it is still a range 1,10-1,13.
Daily:
- Price is below Kumo, and we also had a bearish Senkou cross (forward Kumo twist). Ichimoku setup is turning towards bearish, but again Bears need a confirmation close below 1,1050 -> this would mean trendline break and also a bearish Chikou Span cross below past Kumo.
- Heikin-Ashi is bearish.
- EWO is bearish.
On the daily Bears have better chances and bit more power. They sell all spikes. Question is if market can keep this pace of selling?
p.s.: looking at all crosses, the move in EURUSD is rather due to USD bullishness, not EUR selling.
Weekly:
- Neutral Ichimoku. Everything is located in the spot Kumo cloud: Price, Tenkan and Kijun. Price is testing Kijun Sen, and uptrend line. The setup can not be called firm bearish until Price holds above 1,0975-1,1000! What's more, the forward Kumo still has a bullish bias.
- Heikin-Ashi signal has been bearish for the 4th week now. we may see some slowdown in momentum this week -> see haDelta/SMA3 cross, but it is very early to decide wether we see a breakdown later, or a reversal up.
- EWO is back to neutral.
Basically Bulls need a close above 1,1200, while Bears should push it below 1,1000 to see a real trend unfolding. Otherwise it is still a range 1,10-1,13.
Daily:
- Price is below Kumo, and we also had a bearish Senkou cross (forward Kumo twist). Ichimoku setup is turning towards bearish, but again Bears need a confirmation close below 1,1050 -> this would mean trendline break and also a bearish Chikou Span cross below past Kumo.
- Heikin-Ashi is bearish.
- EWO is bearish.
On the daily Bears have better chances and bit more power. They sell all spikes. Question is if market can keep this pace of selling?
p.s.: looking at all crosses, the move in EURUSD is rather due to USD bullishness, not EUR selling.