Ichimoku is an investment strategy of trend following, it works great on H4, D1 and higher time frames. In this series of articles I present my setups and observations using Ichimoku, supports and resistances and Price Action patterns. You can also check previous Ichimoku overview.


Price has clearly a problem with breaking last highs. After appreciation described yesterday there were some losses again. Sentiment on the pair is still bearish, but so far profit reached only half of SL. Depreciation is less dynamic than before, in the near time we should expect another attack on local resistance at 1.1420.


Bears tried to break support from daily chart at 1.4560 twice, so far without success. Currently we can count on reaction of last losses and small bullish correction. Cloud changed colour to red lately and Tenkan is below Kijun. If there will be a break of the support, we can look for an opportunity to open short position.


Another wave of strong gains on Eurodollar. Price again reached resistance in 1.2070 area. Cloud will change colour to bearish soon, besides that it is very narrow, so it is not a great sign of sentiment. If the resistance will not be broken, price can start consolidating.


Currently we can see bullish reaction for yesterday losses. Sentiment is still bearish, Tenkan is way below Kijun. I think that bullish correction should end soon and price will come back to decreases. I opened short position with Stop Loss a little above 61.8% Fibo retracement. The target for losses is in area of 1.5740 where we can find support from daily chart.

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