After a break of the white Kijun line yesterday price easily found support
by the marked red zone, support level and came right back up above the
Kijun. As price keeps moving sideways after a move up it will eventually
have to deal with the Kumo Cloud. If price breaks through the Cloud and
the support zone, we may see a drop to the Weekly S1 and previous lows
at 0.6870 level. If instead price finds support it may push pricse slightly
higher. Weekly R1 1.2940/resistance 1.09. Or we will see further sideways
continuation until the next stronger impulse appears. All in all, price
consolidating in an uptrend above support.
by the marked red zone, support level and came right back up above the
Kijun. As price keeps moving sideways after a move up it will eventually
have to deal with the Kumo Cloud. If price breaks through the Cloud and
the support zone, we may see a drop to the Weekly S1 and previous lows
at 0.6870 level. If instead price finds support it may push pricse slightly
higher. Weekly R1 1.2940/resistance 1.09. Or we will see further sideways
continuation until the next stronger impulse appears. All in all, price
consolidating in an uptrend above support.