EURUSD - Days of USD bears could soon be over
From now on we can look to build short positions on EURUSD as the odds coming to the bearish side. Signals on Daily chart - MACD bearish cross, Stoch bearish cross, watch px breaking out from the bearish wedge soon!
Signals on 4 Hrs time frame - Tenkan/Kijun weak sell signal (bearish cross), Chikou Span drops below price, Price is below Kijun and 100 WMA, Price attempts to break below the Kumo (cloud). However Stoch is oversold and we still have this uptrend line there.
Strategy: Accumulate shorts on any spikes between 1,3860 - 1,3890. This is basically a Kijun and Kumo retest strategy. Size up short in case Price breaks below trendline and the horizontal 1,3800 support.
Signals on 4 Hrs time frame - Tenkan/Kijun weak sell signal (bearish cross), Chikou Span drops below price, Price is below Kijun and 100 WMA, Price attempts to break below the Kumo (cloud). However Stoch is oversold and we still have this uptrend line there.
Strategy: Accumulate shorts on any spikes between 1,3860 - 1,3890. This is basically a Kijun and Kumo retest strategy. Size up short in case Price breaks below trendline and the horizontal 1,3800 support.