EURUSD - Always the higher time frame dominates
And the higher, daily time frame is still bullish biased. I already called attention ytday to reduce short eurusd exposure, as daily Slow Stoch was turning up. By now actually it gave a buy signal. Also daily DMI swings back to bullish.
4 Hrs setup has changed a lot. DMI is now bullish, and px flirting with the downtrend line of the contra bear, while also Tenkan/Kijun crossed bullish below the Cloud (weak buy signal). Chikou Span also up to the candles.
From now chances are better for a break above 1,3790, and for a few days consolidation between 1,3800 - 1,3840. Smaller but increasing chances for a bullish upturn above 1,3840. Defenately Thursday will decide.
Bearish momentum could come back only with a decisive turn below 1,3750.
But again, lower time fram trading signals work best in line with the higher time frame's indication. And daily chart in short term is still not bearish.
Looking at it all I finally closed all my remaining eurusd shorts too. Watching now, maybe will try to enter small longs soon.
4 Hrs setup has changed a lot. DMI is now bullish, and px flirting with the downtrend line of the contra bear, while also Tenkan/Kijun crossed bullish below the Cloud (weak buy signal). Chikou Span also up to the candles.
From now chances are better for a break above 1,3790, and for a few days consolidation between 1,3800 - 1,3840. Smaller but increasing chances for a bullish upturn above 1,3840. Defenately Thursday will decide.
Bearish momentum could come back only with a decisive turn below 1,3750.
But again, lower time fram trading signals work best in line with the higher time frame's indication. And daily chart in short term is still not bearish.
Looking at it all I finally closed all my remaining eurusd shorts too. Watching now, maybe will try to enter small longs soon.