Weekly Price Action & Ichimoku Chart Outlook | Oct. 7th - 12th

kijun-sen chikou ichimoku 2ndskiesforex.com oct 7th

After needing a natural pullback from its recent uptrend, the Euro found support in the Kijun-sen and now seems like it wants to attack the recent swing highs at 1.3172.  I suspect this a strong possibility so bears can look for price action triggers here while bulls can look for pullbacks to the former resistance at 1.2967 or deeper pullbacks toward 1.2800 before adding longs.  The former level was resistance on several touches so may offer a quicker entry to re-join the uptrend.

Being that price held above the Kijun-sen, the overall trend is still in place and momentum is moderate. The key from an ichimoku perspective will be the chikou line clearing the 1.3167 swing highs.

The …

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