EURUSD#12 - Weekly Homework

EURUSD didn't go up as I thought, in fact it was almost all the way down, triggered by the tension at Korean Peninsula and Ireland debt crisis.

Last week's low 1.3198 was around FBR67 from September, so 1.3180 will be the immediate support for now.

On Ichi indicators, monthly, weekly and daily charts have all shown bearish signals.

On the 4-hourly chart, 1.3050 to 1.3080 might be the next support (chikou support), and then at 1.3000, which might also be a psychological support level.

There are some room for upward movement, with resistance at 1.3380 to 1.3400 (Daily Kumo bottom). Next resistance is 1.3480, if this resistance is breached then it might signals a short term bull trend that might hit 1.3750, with a few more resistances along the way (1.3550, 1.3630).

In a nutshell:

R3 1. 3550 (Daily Chikou support)
R2 1.3480 (Daily Chikou support)
R1 1.3380 to 1.3400 (Daily Kumo bottom)

S1 1.3180 (FBR67)
S2 1.3050 to 1.3080 (Chikou support)
S3 1.3000 (Chikou support)

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