empty
 
 
26.08.2021 06:30 PM
Ichimoku cloud indicator analysis of EURUSD for August 26, 2021.

EURUSD is trading above the Kumo in the 4 hour chart. Trend remains bullish as price is moving sideways over the last couple of sessions. A pull back towards cloud support is justified, but this will occur only if price breaks below the tenkan-sen indicator.

This image is no longer relevant

EURUSD is currently above the tenkan-sen (Red line indicator) at 1.1753. Breaking below 1.1753 will be a sign of weakness and price will be expected to test the upper cloud boundary at 1.1735. Ideally bulls want to see price test the cloud to form a higher low and then bounce off the cloud for the next leg higher. Bulls do not want to see price break inside and below the cloud. Bulls do not want to see the tenkan-sen cross below the kijun-sen (yellow line indicator). Currently the 4 hour chart favors bulls.
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