Daily Ichimoku cloud twists around 1.0775 at start of May - twists attract

Traders are heavily long - many profitably nL1N36K0D6

Vols sinking, rally losing momentum this year - good time to bank profits

Recent development of an overbought situation is added cause for caution

1.0796 is 50% March-April gains - neutral ground

Set back towards daily cloud may lay foundation for bigger rise

Cloud will thicken and rise towards end May - supporting next up-leg