empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

11.08.202315:37 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for August 11th, 2023.

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.

Exchange Rates 11.08.2023 analysis

EURUSD is in a bearish short-term trend according to the Ichimoku cloud indicator in the 4 hour chart. Price has already provided us with a 4 hour candlestick below the Kumo (cloud). This is a bearish signal. Price is trading below the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). The tenkan-sen provides resistance at 1.1011 and the kijun-sen at 1.10. The Chikou span (black line indicator) is below the candlestick pattern (bearish). The recent break above the cloud was short-lived and looked more like a trap. For bulls to regain control of the trend we need to see price above 1.1030. Price is vulnerable to a move lower towards 1.09.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2024

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.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off