"The Ichimoku indicator gave a very nice sell-signal right at the top of the current downtrend (as you can see; the magenta color arrow pointing down)..."
Dear traders, we should expect a pullback for this pair (for now)...; expect a pullback to the cloud-resistances above (which is now quite strong, & would be hard for the price to break-back above it once again)...;
In addition, the MACD/AO is pulled-down rather far; it can be time for it to start printing higher bars soon...
Additionally, the RSI indicator has crossed over to the oversold zone; as such, it would be wise to expect a pullback (back to the neutrality level of 50 at-least)...
This pair is most probably bearish (in a longer run); but there is this pullback coming (from what I see)... Just be prepared for a potentially deeper one...
Best regards.
Dear traders, we should expect a pullback for this pair (for now)...; expect a pullback to the cloud-resistances above (which is now quite strong, & would be hard for the price to break-back above it once again)...;
In addition, the MACD/AO is pulled-down rather far; it can be time for it to start printing higher bars soon...
Additionally, the RSI indicator has crossed over to the oversold zone; as such, it would be wise to expect a pullback (back to the neutrality level of 50 at-least)...
This pair is most probably bearish (in a longer run); but there is this pullback coming (from what I see)... Just be prepared for a potentially deeper one...
Best regards.
Note
On the daily chart;
The bright-green MA may want to go back (closer) to the bright-red MA again soon... (Like the jaws of a crocodile ready to close once again...)
The MACD/AO indicator is suggesting that it will like to print lower bars soon...
The RSI is pointing back downwards to the neutrality level of 50... (Below that level, price will be in bearish territory...)
It is likely that the price will drop & test the cloud-resistances below...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.