EURUSD - projection 1.1220

Ichimoku

The Kumo sets the bias - with price above the cloud, we are only interested in buying opportunities.

What are positive signs for price to appreciate

1. Thick Bullish Cloud.
2. 3 Lines pointing up - Span A ,Span B, and Kijun Sen.
3. Price above Kijun Sen.


Price Action -

1. Channel - price has moved down from 1.12 to 1.10 in a descending channel. This channel has formed a Bullish Flag Pattern.

2. Structure - 1.1100 is acting as short term resistance and 1.10 as support.


Price Catalyst - will be the FOMC announcement, with any Rate Cut bullish for the Pair.

Projection - based of the equal movement of Channel Height , arrives at a conservative price of 1.1220.