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