- Ichimoku setup is neutral, until Price holds below 9,45 key level marked by Kijun Sen.
- Lower support/resistance zone is obvious, marked by 100wma and horizontal lines at 9,20-9,25
- Heikin-Ashi shows indecision, looking at haDelta I think price can not continue higher from here.
- haDelta and EWO shows a very long term negative divergence.
IF... THEN:
- If price can not close above Kijun, then it will dip into the Kumo cloud in coming weeks, probably testing 9,20+ again.
- If price once closes below 9,20 support, space will open to 8,95-9,00 first, the move would be quick.
- If price breaks 9,20, then a huge Head and Shoulders pattern gets validation. In that case any spike back to 9,20 from 8,95-9,00 will have to be used to sell.
I think EUR will remain under pressure in coming weeks. This can support short EURNOK positions.
The other important component is Brent Oil, which is consolidating now. If it can't turn bearish really, then EURNOK selling will be more agressive.
This trade idea is a long term play. Worth to follow!
- Lower support/resistance zone is obvious, marked by 100wma and horizontal lines at 9,20-9,25
- Heikin-Ashi shows indecision, looking at haDelta I think price can not continue higher from here.
- haDelta and EWO shows a very long term negative divergence.
IF... THEN:
- If price can not close above Kijun, then it will dip into the Kumo cloud in coming weeks, probably testing 9,20+ again.
- If price once closes below 9,20 support, space will open to 8,95-9,00 first, the move would be quick.
- If price breaks 9,20, then a huge Head and Shoulders pattern gets validation. In that case any spike back to 9,20 from 8,95-9,00 will have to be used to sell.
I think EUR will remain under pressure in coming weeks. This can support short EURNOK positions.
The other important component is Brent Oil, which is consolidating now. If it can't turn bearish really, then EURNOK selling will be more agressive.
This trade idea is a long term play. Worth to follow!
