What are the chances for a swing up? Key is still 1,0630+
Weekly:
- Ichimoku setup is bearish, but market could not make a lower low. Tenkan started to point up. Consolidation.
- Heikin-Ashi last week already signalled loss of bearish momentum: finished with an inside body candle with no lower low compared to previous week's candle. haDelta crossed above its SMA3 This week haOscillator may deliver a bullish cross above its center line too.
- There may be still a chance for an A-B-C move to test 1,0820 - 1,0890 zone
- MACD shows bearish consolidation, EWO ticks higher.
Daily:
- Price (and also Chikou Span) back to the Kumo. Major averages are still flat: Ichimoku setup is neutral.
- Heikin-Ashi looks like swing bullish, but for validation price has to clear finally the 1,0630 - 1,0660 resistance. Today candle already has a higher high, but we need a confirmed close above 100wma and Kijun lines. While market is clearly stuck in a narrow 1,05 - 1,0630 rangem, haDelta and haOscillator have built positive divergence.
- MACD may have another important signal: loss of bearish momentum.
- EWO is bearish, but with less negative value.
Note: 4H time frame supports dip buying around 1,0575-0590 range. Therefor I bought some more today. Size up after a confirmed close above 1,0630.
- Ichimoku setup is bearish, but market could not make a lower low. Tenkan started to point up. Consolidation.
- Heikin-Ashi last week already signalled loss of bearish momentum: finished with an inside body candle with no lower low compared to previous week's candle. haDelta crossed above its SMA3 This week haOscillator may deliver a bullish cross above its center line too.
- There may be still a chance for an A-B-C move to test 1,0820 - 1,0890 zone
- MACD shows bearish consolidation, EWO ticks higher.
Daily:
- Price (and also Chikou Span) back to the Kumo. Major averages are still flat: Ichimoku setup is neutral.
- Heikin-Ashi looks like swing bullish, but for validation price has to clear finally the 1,0630 - 1,0660 resistance. Today candle already has a higher high, but we need a confirmed close above 100wma and Kijun lines. While market is clearly stuck in a narrow 1,05 - 1,0630 rangem, haDelta and haOscillator have built positive divergence.
- MACD may have another important signal: loss of bearish momentum.
- EWO is bearish, but with less negative value.
Note: 4H time frame supports dip buying around 1,0575-0590 range. Therefor I bought some more today. Size up after a confirmed close above 1,0630.
