empty
 
 
24.09.2019 08:46 AM
Daily Ichimoku cloud analysis on EURUSD for September 24th, 2019

Last Friday we noted the importance of a daily close above the kijun-sen in order for EURUSD to continue higher towards 1.1150. This did not happen. On the contrary price closed below the kijun-sen and almost broke below the tenkan-sen. This was a bearish sign.

This image is no longer relevant

Price remains below the Daily Kumo. Trend remains bearish. The bounce that we are expecting has been at least delayed if not canceled, as bulls were unable to keep price above the kijun-sen (green line indicator). Price is now below the tenkan-sen (red line indicator) also and this is a sign of weakness. Trading below both the tenkan- and the kijun-sen implies more downside ahead. Horizontal support is at September lows of 1.0925. Bears remains in control of the short- and medium-term trend.
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 $1000 more!
    In April we raffle $1000 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