For Traders

Analytical Reviews

Ichimoku Indicator

30.11.202215:04 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for November 30th, 2022.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EURUSD is trading around 1.0370. Price has made no real progress over the last few days as it is trapped between 1.04 and 1.03. However price has managed to stay above the Kumo (cloud) which was tested several times. Short-term support is found at 1.0350 by the cloud. At 1.0357 we also find the tenkan-sen (red line indicator) providing support. The Chikou span (black line indicator) is below the candlestick pattern (bearish). Price is above the 4 hour cloud (bullish) but below the kijun-sen (yellow line indicator) at 1.0408. This is important short-term resistance. As long as price is below the kijun-sen, short-term trend will be vulnerable to the downside.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.