Up and down, still no trend. Very low ADX on both time frames, with 4 Hrs Ichimoku setup being bearish now. (Kumo break yesterday).
Price on daily chart enterred the Kumo again, which is the zone of undecision. The long and flat Kumo bottom suggests it may attract price, which in case would mean a break of the uptrend line ard 1,3760. That is the first key level. The second of course is the Kumo bottom at 1,3720. In case price breaks both, then we may see a long term trend reversal.
Additional signals to confirm: DMI will have to cross bearish and ADX needs to increase. MACD needs to give us a firm sell signal too.
So far I think the small bearish momentum within current range is due to EUR weakness. EUR started to loose strength on other crosses too. If the FED today delivers some neutral/less dovish statement, it can be the big day for the USD, and that could be a bearish trigger for EURUSD.
p.s.: It worth to watch GBPUSD too, as the USD pickup will be visible with a break on that chart.
Price on daily chart enterred the Kumo again, which is the zone of undecision. The long and flat Kumo bottom suggests it may attract price, which in case would mean a break of the uptrend line ard 1,3760. That is the first key level. The second of course is the Kumo bottom at 1,3720. In case price breaks both, then we may see a long term trend reversal.
Additional signals to confirm: DMI will have to cross bearish and ADX needs to increase. MACD needs to give us a firm sell signal too.
So far I think the small bearish momentum within current range is due to EUR weakness. EUR started to loose strength on other crosses too. If the FED today delivers some neutral/less dovish statement, it can be the big day for the USD, and that could be a bearish trigger for EURUSD.
p.s.: It worth to watch GBPUSD too, as the USD pickup will be visible with a break on that chart.
