For Traders

Analytical Reviews

Ichimoku Indicator

24.11.202018:08 Forex Analysis & Reviews: Ichimoku cloud indicator Daily analysis of EURUSD

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 so far despite the volatility and the ups and downs, has held above the Ichimoku cloud in the 4 hour chart keeping short-term trend bullish. In our previous analysis we noted that a pull back towards 1.18 was possible and that bears needed to break below 1.18-1.1750 in order for short-term trend to change to bearish.

EURUSD price is above both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) and of course above the Kumo (cloud). Support is found at recent lows around 1.1840-1.1820. Bulls so far have defended the cloud support and are pushing price higher. This is a bullish sign. Bears need to break at least below the 4 hour Kumo in order to hope for a short-term trend change.

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.