Short and sweet, let’s start with the 1 day candles:
Daily Euro/USD, Ichimoku overlau, courtesy CMC markets
Today’s fall broke the entire cloud off a flat top! It is currently trading on the first shoulder bottom in the inverted H&S pattern, and why on earth would you buy? Especially seeing this:
Euro/USD on 4 hr candles, ichimoku overlay
Failed to make a new top at 1.387, where the previous one was basically a Kijun rejection to begin with. Now… there’s a bounce in the cloud, a resurrection of the Tenkan and Kijun negative slope, price action trashing both nearly instantaneously and forcefully, and while we’re at it, the Tenkan-sen is crossing below the Kijun-sen at a position below the cloud! 1.30 anyone? But, wait, it gets better:
Euro/USD over 1h candles, ichimoku overlay
The price absolutely doesn’t hesitate after the fall starts at the flat top (thin) kumo, which is crossed in 1 hour with force at the thickest point after earlier bounces having preceded the 1.387 retest. Also new bottom below 1.363.
So, in these three charts, or one with higher timeframes, can anyone find me a positive signal for euro technical trading advice? Is anyone willing to fundamentally trade into this thing?
