EURUSD: Last move towards 1.366-1.375 before reversal
On a weekly chart, EURUSD has given the initial signal of the reversal through the TENKAN-KIJUN twist.
Of course other signals have to confirm the reversal and we are not there yet, but the reversal will be heavy baring in mind that the TENKAN-KIJUN twist occurred outside the Kumo Cloud.
But yet the Lagging span didn't penetrate the price and the cloud and STOCH indicate that we are at an almost oversold level, and there is still some room for the upside. Therefore, 1.366 as the initial target, and then 1.372 for a mid target as well as 1.375 remain solid.
KEEP IN MIND THAT THIS IS BASED ON A WEEKLY CHART !!!
Of course other signals have to confirm the reversal and we are not there yet, but the reversal will be heavy baring in mind that the TENKAN-KIJUN twist occurred outside the Kumo Cloud.
But yet the Lagging span didn't penetrate the price and the cloud and STOCH indicate that we are at an almost oversold level, and there is still some room for the upside. Therefore, 1.366 as the initial target, and then 1.372 for a mid target as well as 1.375 remain solid.
KEEP IN MIND THAT THIS IS BASED ON A WEEKLY CHART !!!
