On the daily time frame, it could be noticed that the price seems to be out of the cloud and above of it. In addition to this, we may detect four clues of reversal. Precisely, the first clue seems to show the price entering inside the cloud. The second clue shows that the price broke the Tekan Sen and Kijun Sen, and it is below these two lines. The third clue might be considered as the Tekan Sen and Kijun Sen, from a crossover to the downside, seem to start forming a potential bear formation. The fourth clue might be indicated by the Chikou span, which seems to be inside the current price.
It could be expected that the price may bounce on the bottom of the cloud on 1.21444 and reverse above. We could probably go to lower time frames and wait for a valid Kumo breakout signal above or enter the market.
This week presents high volatility in the market. Hence estimate your risk before entering.
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