A local low is possible, but no time for Bulls yet
A few things to have a look at:
- EURUSD has been trending lower in a possible wedge. Price being stuck at the lower bound, but never really shows a heavy bearish momentum acceleration down. Instead it looks like a carry driven pressure.
- Bearish supports are comeing lower as time passes: Kijun at 1,1033 and Senkou B at 1,1095. Bullish reversal would take place and a long entry in size would be recommended only above these key levels. Otherwise negative carry will annoy you and destroy you unjustified long positions.
- While the trend is bearish, and EWO is red too, Heikin-Ashi already signals a possible local low: Candle body shrinks, haOscillator crosses up from its low, and haDelta+ may reverse up too, also showing some minor positive divergence.
Reco: Short positions should be eased and/or covered puts can be sold.
- EURUSD has been trending lower in a possible wedge. Price being stuck at the lower bound, but never really shows a heavy bearish momentum acceleration down. Instead it looks like a carry driven pressure.
- Bearish supports are comeing lower as time passes: Kijun at 1,1033 and Senkou B at 1,1095. Bullish reversal would take place and a long entry in size would be recommended only above these key levels. Otherwise negative carry will annoy you and destroy you unjustified long positions.
- While the trend is bearish, and EWO is red too, Heikin-Ashi already signals a possible local low: Candle body shrinks, haOscillator crosses up from its low, and haDelta+ may reverse up too, also showing some minor positive divergence.
Reco: Short positions should be eased and/or covered puts can be sold.
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