The market is excited due to good data from the UK, however waiting still for the FOMC meeting which may be absolutely crucial for the behavior of the currency in the nearest future. But let’s leave the fundamental analysis behind and begin today’s Ichimoku Forex Review:

EUR/JPY H4:

Currency pair consolidates near the lower limit of the upward cloud, giving a weak sell signal. If the current candle is downward, it will give a next signal with small stop loss above today’s minimum.

EUR/JPY D1:

On the daily chart we can see that the Kijun line is defending itself right now. The breakout should result in about 200 pips decline. Therefore, this position may be worth opening.

GBP/USD H4:

Price entered the cloud and expressly rejected it. It is possible that pin bar candle will occur – largely supply-like. This will be a sell signal (strong one! Kumo is falling).

GBP/USD D1:

Daily chart does not allow specially to open short positions, because the price rebounded from the Kijun line. However, it is worth pointing that it is firmly pointing up and if the price does not increase significantly tomorrow, it will forecast larger decrease – around 150 pips. It is really to take such a big risk before the FOMC meeting?

It will be better to wait for the market reaction.

 

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