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Ichimoku Indicator

07.12.202117:49 Forex Analysis & Reviews: Ichimoku cloud bearish signal in EURUSD.

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EURUSD price has broken below the 4 hour Kumo providing us with a bearish signal. As long as price is below the Kumo (cloud), EURUSD will be vulnerable to making new lower lows below 1.1186.

The cloud resistance is at 1.1285-1.13. Bulls need to break above this level in order to regain control in the 4hour chart. The tenkan-sen (red line indicator) is at 1.1269 and its our first short-term resistance. The kijun-sen (yellow line indicator) resistance is at 1.1293. Bulls need to break above these levels in order to show signs of strength. Until then price is vulnerable to more downside.

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