24-Jan-2014, GMT 13:28
Welcome in today’s Ichimoku review.
Sell signal marked yellow preluded over 100 pip slump on a pair. Trend seems clear and bears are prevailing here despite broad Dollar weakness. It’s worth waiting for retracement to Kijun line and if price will bunce from it, we could consider short.
Close of the candle above the cloud will provide weak sell signal. Especially than on a daily chart trend is still up and price just broke the Kijun line.
Loonie is in corrective move that reached Kijun line and bounced from it. On H1 chart we see long downward wicks suggesting some demand on that level. Close of the candle above this line will be buy signal with SL right below minimum of the candle.
Yesterday’s sell signal brought pair 200 pips lower. Currently price on a daily chart is reaching the upper bound of the cloud, what tells us that we should be very careful trying to join the trend.