Comment:
After previous analysis on 18 May market has been in descending P wave, potential support breakout as per below Ichimoku confirmation.
Ichimoku Breakout Analysis:
- Kumo (Senko span A) down and getting thicker
- Kijun sen down
- Chiko Span below candles
Next Scenario:
Price itself is below Tenkan Sen, showing bearishness. Market could be resisted by Tenkan Sen and descending trend line, and possibly break the support level as well as round number of 1.20000.
After previous analysis on 18 May market has been in descending P wave, potential support breakout as per below Ichimoku confirmation.
Ichimoku Breakout Analysis:
- Kumo (Senko span A) down and getting thicker
- Kijun sen down
- Chiko Span below candles
Next Scenario:
Price itself is below Tenkan Sen, showing bearishness. Market could be resisted by Tenkan Sen and descending trend line, and possibly break the support level as well as round number of 1.20000.
Forex Kei
Official Website: forex-kei.com
Global Trading School: forex-kei.com/?page_id=2855
KTS Academy: keistradingstrategy.com
Official Website: forex-kei.com
Global Trading School: forex-kei.com/?page_id=2855
KTS Academy: keistradingstrategy.com
Related publications
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.
Forex Kei
Official Website: forex-kei.com
Global Trading School: forex-kei.com/?page_id=2855
KTS Academy: keistradingstrategy.com
Official Website: forex-kei.com
Global Trading School: forex-kei.com/?page_id=2855
KTS Academy: keistradingstrategy.com
Related publications
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.