EURUSD: limited upside potential.
On the daily we have:
1) Chikou Span above historic candles but below the Kumo.
2) Tenkan-Kijun cross upward but below the Kumo, so a moderate signal.
3) last candlesticks unable to break the Kumo after rejection down from Senkou Span B which as a matter of fact matches 38.2% Fibonacci retracement of the downtrend in place since May 2016.
On the weekly Ichimoku is showing a descending Kumo after the twist. Just above 38.2 Fibonacci lies a flat Kijun Sen at 1.0853 which should provide addtional resistance.
1) Chikou Span above historic candles but below the Kumo.
2) Tenkan-Kijun cross upward but below the Kumo, so a moderate signal.
3) last candlesticks unable to break the Kumo after rejection down from Senkou Span B which as a matter of fact matches 38.2% Fibonacci retracement of the downtrend in place since May 2016.
On the weekly Ichimoku is showing a descending Kumo after the twist. Just above 38.2 Fibonacci lies a flat Kijun Sen at 1.0853 which should provide addtional resistance.
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