Hi. This is my first post on FF. My NEAR-TERM view on this pair based on my 4H Ichimoku analysis is BEARISH. As I'm not a position trader but am a day trader, I don't predict the price movement for an extended period.
The reason for my near-term bearish view is the Chiko-line has crossed the Tenkan-line from above as well as it failed to break 1.6706 or to hold above 1.6700 in the previous candle. RSI is also pointing down. It needs to go down first, and may go back up after that. My target is 1.6620 which is just above the Kumo/cloud, although it could extend down to the 4H trend line.
http://www.forexfactory.com/attachme...1&d=1258261930
The reason for my near-term bearish view is the Chiko-line has crossed the Tenkan-line from above as well as it failed to break 1.6706 or to hold above 1.6700 in the previous candle. RSI is also pointing down. It needs to go down first, and may go back up after that. My target is 1.6620 which is just above the Kumo/cloud, although it could extend down to the 4H trend line.
http://www.forexfactory.com/attachme...1&d=1258261930