Try of break above Tenkan-sen 1.1350 ended with failure and today price is testing Kijun-sen 1.1304 support again. In the afternoon there will be ECB meeting and Mario Draghi’s press conference. We all remember what happened a month ago, just take a look at March 10th candle (C point on the chart). Why C point? Because there is still a possibility of continuation of gains on EURUSD if we consider wave AB and will look for D point matching C.

You can read Ichimoku strategy description here.

So far chart broke 1.1123, where AC=CD and as long as price is above this level there is a possibility of continuation of bullish trend to AB=CD. It is at 1.1677, close to (8/8) 1.1719. The signal for the end of correction would be another break of price above Tenkan-sen and (5/8) 1.1352.

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