empty
 
 
14.04.2020 07:35 PM
Ichimoku cloud indicator provides another bullish sign for EURUSD in 4 hour chart

EURUSD is trading above the short-term cloud resistance at 1.0960. Price has broken above the 4hour Kumo and this is another bullish sign, following the weak bullish sign when the tenkan-sen crossed above the kijun-sen indicator.

This image is no longer relevant

EURUSD is trading around 1.0967. Price is above the Kumo. Staying above the cloud is crucial for the short-term trend. Both the tenkan-sen (yellow line indicator) and the kijun-sen (green line indicator) are positively sloped with price above them. Support by these two indicators is at 1.0935-1.0910. The Chikou span (black line indicator) is inside the Kumo. Bulls are gaining control of the short-term trend. Support at 1.0950-1.09 is crucial. Bulls need to stay above it. Failure to hold above it will be a bearish sign. EURUSD so far is making higher highs and higher lows in the 4 hour chart. This must continue in order for traders to see a change in the Daily trend as well. Until then we are cautiously bullish.
Summary
Urgency
Analytic
Alexandros Yfantis
Start trade
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 $9000 more!
    In May we raffle $9000 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
  • 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