Filipo1

Filipo1

If EUR tumbles on Monday's opening due to French presidential election 1st round's outome there are chances for GBP to be heavily bought.

Filipo1

-Chikou Span below historic closes = bearish -Tenkan Sen crossed below Kijun Sen = bearish Indicators: RSI below 50, Stochastic in oversold territory. Pattern: H&S. Weekly check-list: -Price action below the cloud in bearish territory -Chikou Span below historic closes = bearish -Tenkan Sen below Kijun Sen = bearish -Last CS closed below Tenkan Sen = bearish

Filipo1

-Chikou Span: ok -Tenkan/Kijun cross: ok -Stochastic: ok Watch for potential Kumo/resistance line breakout/retracement.

Filipo1 Updated 

1) Price action rejected from the Fibonacci 50% retracement zone of the long-term downtrend that started on 21Nov2014. 2) Regular bearish divergence with RSI, which just crossed below the 50 line. 3) last daily candlestick broke short-term support line. As far as pacific currencies are concerned and moreover JPY I always check Ichimoku for confirmation. For the...

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View supported by Ichimoku 1D and H4

Filipo1

View supported by Ichimoku 1D and H4.

Filipo1 Updated 

Bollinger bands breakout with shooting star on weekly timeframe (similar bearish breakout already confirmed on the daily). BB are going wider after squeeze = increased volatility ahead = potential sharp reversal.

Filipo1

What do we have here? Price action below the Kumo, Tenkan Sen having crossed below Kijun Sen and the cherry on the cake... Chikou Span of course below historic candles!

Filipo1 Updated 

Does that retracement even makes sense...?

Filipo1

Good support from rising Bollinger middle band so far. On Ichimoku a bit the same as my view of JPY earlier today: good support from Kumo / Fibonacci confluence ( see below)

Filipo1

No additional comment except the Tenkan-Kijun crossover now confirmed as price action is taking place over the Kumo.

Filipo1 Updated 

Price action is maintaining above the Kumo since December on the daily, and we just had a Tenkan-Kijun upward cross. However the Chikou Span is barely above historic candles and has to be monitored to confirm the bullish signal. Of course a lot will depend on how well optimism about OPEC production cuts will continue to offset DOE increasing stockpiles reports.

Filipo1

To take with a pinch of salt as these famous patterns are less and less reliable...

Filipo1 Updated 

Despite the piercing of the lower bound of the Kumo on the weekly chart with a bullish engulfing candle, Chikou Span is still way below historic candles and we have a bearish twist ahead. Here on the daily price action is still within the Kumo supposedly at equilibrium. Now that FOMC and NFP are behind us will the Trump-o-nomics sustain a Kumo breakout for Gold?...

Filipo1

After a short break of the flat Tenkan Sen last week's candlestick closed lower than the Jan 09. Overall landscape stays bearish as price action remains below the Kumo and the Chikou Span below historic candles on all timeframes from monthly to hourly. The proximity of the Kijun Sen on the weekly supports the probability of the continuation of the downtrend.

Filipo1

This time with a better Fibonacci plotting starting mid of August 2016. Same comment as my former post 5 hours ago approx.except for Kijun at 1.0853 now matching unbroken 50% retracement. In addition we now have projected Senkou Span B matching 61.8% retracement and Senkou Span A... 38.2% . Just another example of the multiple confluences between Ichimoku and Fibonacci.

Filipo1

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...

Filipo1

We could re-visit the 1.2750 but then a lot will depend on the central banks discourse this week.