empty
 
 
29.10.2020 04:16 PM
Ichimoku cloud indicator Daily analysis of EURUSD

EURUSD is in neutral trend according to the Ichimoku cloud indicator. However the Cloud indicator has warned us with several signals so far of the vulnerability of EURUSD. With price now just below 1.17, bulls are in a very difficult spot. Price is making lower lows and lower highs and price is about to break down below the lower cloud boundary.

This image is no longer relevant

The rise from 1.1612 to 1.1880 has most probably been complete and now we are at the early stages of a move lower that will eventually break below 1.16 and reach 1.15. Confirmation of the bearish signal will come first when price breaks out and below the Kumo (cloud). Secondly bears would want to see the tenkan-sen cross below the kijun-sen. Resistance is found at 1.18 and as long as price is below this level we remain pessimistic.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback