$EURUSD : Weak kumo support

The $EURUSD has fallen to 1.734 .

1. From the Ichimoku chart, we can see that a bearish cross may be forming.

2. The kumo support below is thin and there is a chance that it will goes through the support.

3. If it rebounds and did not clear 1.383, there is a chance that it will go down from there.

Watch out for the $EURUSD to break down.

$BTCUSD . Kumo support and consolidation

$BTCUSD Kumo support and price consolidation

 

The trading volume of bitcoin $BTCUSD has tapered off a bit since the last rebound.

With it, the price seems to be consolidating. We can see this from both the Kijun sen and kumo flattening.

Chikou Span suggest a trading range of $532 and $660.

However, we need to watch for the price level support at the Kijun sen. $565.

Should price dips below this, we may see a bearish cross confirmation from the Tenkan sen and Kijun sen.

Watch the support and for those who have a LONG position, have your risk management in place.

 

$BTCUSD : Kumo resistance

The regulators are starting to look at how they can regulate bitcoins.

The lowest it went was around US$400 before it quickly rebounded back in Feb 25.

With the rebound, I think that represent interests and a good base.

From the Ichimoku chart, we can see that $BTCUSD is forming a base around $630 range.

I believe, if it breaks through the kumo resistance and the immediate Tenkan sen around $647, it will go all the way to US$700.

Note:

$BTCUSD is volatile. As such, have your exit strategy in place.