Euro and Cable - Where To Go Next?

Okay - we are at a crossroad right? The Euro and Cable seem to be "marking time" going in no true direction. So I think this is a good time to look at this from the clouds :)

Cable -

The cable is caught between 1.7743 and 1.7694. and it has been caught here for quite a few hours. If you are a tight range Trader or what I like to call a "Ranger" than this is your playing ground if you are a trend trader or what I like to cal "Trendy" you are shaking your head in disbelief! lol!! I am in club #2 the "Trendy". So lets look at the picture -

On the 1D chart we have a prevailing Tenkan/ Kijun cross within the Kumo pointing towards the bull camp - if you have been following this Blog you should have gained well over 150 pips in Cable over the last week or so if not more - but now we are in a crunch time - and after a conversation with a collegue this morning (early) he revelaed to me that US data was coming out today - I know.. this should have not been a suprise to me - but if you know me I rely havily on my analysis and try to block out anything that is not analysis - so it is good to have friends that do keep up with news reports and the such. Anyway... back to the Cable. 1. We have a prevailing cross reading bull on the 1D chart 2. the Chikou is well above price 3. Kijun is headed north - 4. Tenkan is headed north. All of this says - "north" - On the 1H chart you have "potential" Tenkan/ Kijun cross that will show bull - but we are caught witin the forementioned range.

Strategy - Do not trade, place two alarms 1. @ 1.7750 and 2. @ 1.7690 wait for your notification of these two and look for the Tenkan/ Kijun cross within the Kumo - confirming a climb- or if price falls look for the Tenkan and Kijun to both point downward - and make sure Chikou is below the 1.7690 alarm line - for downward momentum -

Right now we are just in a un-decided stste and this can be confirmed by how close the Tenkan and Kijun are - they are running almost side by side with and Chikou is running "through" price - So be still... wait for confirmations and move accordingly - If we fall look for 1.7636 or 1.7619 as targets. Climbing - look for 1.7910 our original major target -

Euro - Same stuff..

We are caught between 1.2034 and 1.2000 - We have a good outlook on the 1D for continued climbing BUT - (there is always a but huh?) the data release today has us in a pickle -

If you read the Cables forecast we are in similar drama here... I would suggest placing alarms at 1.2040 and 1.1995 and waiting for breaks above or below these levels - My preferred stance is bull - so stay positive bull - targets higher I would like to see 1.2089 and higher - escaping the 1D Kumo. Lower 1.1968 or even 1.1935...

So I am in hopes this helps -

Be careful out there!!!