Hi Howard. Thank you for concerning my system. I used it only when there is big news coming. Normally, i use a real ichimoku system which it's normally used by many people and I combine it with fundamental analysis to strengthen my analysis. .I don't use the EA because of inconsistent signal.and I combine it with fundamental analysis to strengthen my analysis. Here is my analysis for EUR/USD today.
Fundamental analysis: According to Kathy Lien
” 3 Reasons for EUR/USD Bounce
The euro extended its recovery versus the U.S. dollar for 3 main reasons – first the U.S. dollar remained weak after the FOMC rate decision. Second, the surprise decision by Norway’s central bank to lower its interest rate forecast for the next 4 years fueled rampant speculation that the Norges Bank is gearing up for a rate cut. This announcement sent EUR/NOK up 2.3% to a 2-month high as the sell-off created renewed demand for euros. Third, the market finally realizes that the ECB won’t be making another move anytime soon. Although ECB member Constancio reminded us today that the central bank could deploy more measures if needed to counter prolonged low inflation and the response would include broad based purchases, before they opt to do so, they will want see how their previous measures affected the economy. This means they will wait at least 1 to 2 months before taking additional action. Meanwhile the Swiss Franc traded slightly higher versus the euro and U.S. dollar after the Swiss National Bank left monetary policy unchanged. This decision was widely expected since only a small subset of investors anticipated any action from the central. As usual, the SNB reminded us that with international factors putting downside risk on growth, they will defend the 1.20 EUR/CHF peg aggressively. The central bank held its 2014 GDP forecast steady and revised up its inflation forecast by 0.1%. This minor change does not alter our outlook for steady SNB policy. German producer prices are scheduled for release tomorrow along with Eurozone current account figures. ”
Ichimoku analysis:
http://learnichimoku.com/wp-content/...6/eurusdh1.png
H1: we have a strong buy signal now with a cross between kijun sen and tenkan sen above the cloud, price above cloud, and chinkou span above the past price.
http://learnichimoku.com/wp-content/...urusddaily.png
D1: we have a strong resistance at the area around 1.3669. Price is needed to break through this resistance before move higher.
Conclusion: after a unexpected news from the Fed, the dollar remained weak compare to other currency. I expect it will go down more tomorrow. Because there is a strong buy signal, i just make a buy in this pair.
Fundamental analysis: According to Kathy Lien
” 3 Reasons for EUR/USD Bounce
The euro extended its recovery versus the U.S. dollar for 3 main reasons – first the U.S. dollar remained weak after the FOMC rate decision. Second, the surprise decision by Norway’s central bank to lower its interest rate forecast for the next 4 years fueled rampant speculation that the Norges Bank is gearing up for a rate cut. This announcement sent EUR/NOK up 2.3% to a 2-month high as the sell-off created renewed demand for euros. Third, the market finally realizes that the ECB won’t be making another move anytime soon. Although ECB member Constancio reminded us today that the central bank could deploy more measures if needed to counter prolonged low inflation and the response would include broad based purchases, before they opt to do so, they will want see how their previous measures affected the economy. This means they will wait at least 1 to 2 months before taking additional action. Meanwhile the Swiss Franc traded slightly higher versus the euro and U.S. dollar after the Swiss National Bank left monetary policy unchanged. This decision was widely expected since only a small subset of investors anticipated any action from the central. As usual, the SNB reminded us that with international factors putting downside risk on growth, they will defend the 1.20 EUR/CHF peg aggressively. The central bank held its 2014 GDP forecast steady and revised up its inflation forecast by 0.1%. This minor change does not alter our outlook for steady SNB policy. German producer prices are scheduled for release tomorrow along with Eurozone current account figures. ”
Ichimoku analysis:
http://learnichimoku.com/wp-content/...6/eurusdh1.png
H1: we have a strong buy signal now with a cross between kijun sen and tenkan sen above the cloud, price above cloud, and chinkou span above the past price.
http://learnichimoku.com/wp-content/...urusddaily.png
D1: we have a strong resistance at the area around 1.3669. Price is needed to break through this resistance before move higher.
Conclusion: after a unexpected news from the Fed, the dollar remained weak compare to other currency. I expect it will go down more tomorrow. Because there is a strong buy signal, i just make a buy in this pair.
