Trend is your friend, until its end!
Looking at weekly I have the feeling (way too early feeling) that this massive bullish trend will end this year. But probably not now! I believe we'll see one more spike from here. The BIG QUESTION is how high it would go in case? Will we see a higher or only a lower high???
Weekly:
- Price is back to major bullish trendline and weekly equilibrium: trades ard Senkou B.
- Heikin-Ashi has early warning of a possible bullish reversal ahead! haDelta hit extreme low and crosses back above SMA3, while candle body shrinks.
- EWO is down to zero. We may see one more spike, but it is very unlikely that we see EWO printing such an extreme high value again. And this will lead to some form of an EWO trend exhaustion warning later this year.
- weekly upper resistances and possible spike tgts: 1,3760 / 1,3920 / ... ? ...
Daily:
- Ichimoku setup is bearish, but price reached a stronger resistance at 1,32+
- Heikin-Ashi candle changes colour today with quite a high upper (and witout a lower) wick. haDelta/SMA3 ticks above zero, while it has also built a massive bullish divergence. Oscillator switched bullish. USDCAD bears may soon start heavy position unwinds.
- EWO is still bearish.
I don't know how high it goes, but chance to reach 1,36-1,3750 area. If price closes below 1,3175, that makes the swing long idea invalid.
Note: if you go down to 4H chart setup, there you will see Price is just attacking Kumo and 100 WMA, and that the structure is changing towards counter bullish. Try to catch dips or buy the 4H breakout.
Looking at weekly I have the feeling (way too early feeling) that this massive bullish trend will end this year. But probably not now! I believe we'll see one more spike from here. The BIG QUESTION is how high it would go in case? Will we see a higher or only a lower high???
Weekly:
- Price is back to major bullish trendline and weekly equilibrium: trades ard Senkou B.
- Heikin-Ashi has early warning of a possible bullish reversal ahead! haDelta hit extreme low and crosses back above SMA3, while candle body shrinks.
- EWO is down to zero. We may see one more spike, but it is very unlikely that we see EWO printing such an extreme high value again. And this will lead to some form of an EWO trend exhaustion warning later this year.
- weekly upper resistances and possible spike tgts: 1,3760 / 1,3920 / ... ? ...
Daily:
- Ichimoku setup is bearish, but price reached a stronger resistance at 1,32+
- Heikin-Ashi candle changes colour today with quite a high upper (and witout a lower) wick. haDelta/SMA3 ticks above zero, while it has also built a massive bullish divergence. Oscillator switched bullish. USDCAD bears may soon start heavy position unwinds.
- EWO is still bearish.
I don't know how high it goes, but chance to reach 1,36-1,3750 area. If price closes below 1,3175, that makes the swing long idea invalid.
Note: if you go down to 4H chart setup, there you will see Price is just attacking Kumo and 100 WMA, and that the structure is changing towards counter bullish. Try to catch dips or buy the 4H breakout.
