18.05.201801:57 Forex Analysis & Reviews: Daily EUR / USD review as of 05/17/18. Ichimoku Indicator

EUR / USD

As a result of the bearish divergence and subsequent long consolidation, the victory still gained by the players. The decline turned out to be active and productive. The players on the slide reached the descending target on the break of the day's cloud, pierced it, worked in the ascending correction retest and regained the downward trend again yesterday. In the current situation, the reserve is maintained to continue the bearish decline, as the accumulation of boundaries and supports is currently located around 1.1700 (the monthly Fibo Kijun 62 1,1708 + month Senkou Span A 1.1670 + week Senkou Span A 1.1969). The deceleration and corrective ascending rise in the current conditions will indicate that the forces are no longer the same and the players on the decrease continue to move lower and n extended pause is necessary. At the moment, the EUR/USD pair performed the initial stage of the emerging correction upon reaching the resistance of Tenkan H4 and the cross H1. The most significant for the formation of a complete correction is an increase in the area of 1.1880 - 1,900 (the lower boundary of cloud H4 + cloud H1 + the final borders of the cross H1 + day Tenkan).

Resistance: 1.1810-20 - 1.1880 - 1.1900.

Support: 1.1708 - 1.1670.

Indicator parameters:

all time intervals 9 - 26 - 52

Color of indicator lines:

Tenkan (short-term trend) - red,

Kijun (medium-term trend) - green,

Fibo Kijun is a green dotted line,

Chinkou is gray,

clouds: Senkou Span B (SSB, long-term trend) - blue,

Senkou Span A (SSA) - pink.

Color of additional lines:

support and resistance MN - blue, W1 - green, D1 - red, H4 - pink, H1 - gray,

horizontal levels (not Ichimoku) - brown,

trend lines - purple.

* The presented market analysis is informative and does not constitute a guide to the transaction.