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

07.04.202117:11 Forex Analysis & Reviews: Ichimoku cloud analysis of EURUSD for April 7th, 2021

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 at 1.19 where we find the kijun-sen (yellow line indicator) resistance. A daily close above 1.1908 will open the way for a move higher towards the cloud resistance at 1.2050-1.21. A rejection here will push price back towards the tenkan-sen support at 1.18.

Exchange Rates 07.04.2021 analysis

EURUSD continues its positive daily candlesticks as price breaks above the tenkan-sen (red line indicator). If bulls manage to capture the kijun-sen then we should see a move higher towards cloud resistance. Daily trend in terms of Ichimoku cloud indicator is still bearish as price is still below the cloud. Only in the 4 hour chart we had so far a trend change as price broke above the cloud. At the tenkan-sen (Red line indicator) we have important support (1.18-1.1820). The short-term trend changes if we break below that level.
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