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10.08.201801:49 Forex Analysis & Reviews: Daily EUR/USD review as of 08/09/18. Ichimoku Indicator

Long-term review
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 10.08.2018 analysis

EUR / USD

A complete reversal was formed yesterday from the resistance encountered (trend correction + day Fibo Kijun 1.1630), players failed to decline. The day candle of the previous day looks some kind of uncertainty. To determine the bearish potential that would allow us to fight again for the weekly bearish trend recovery (1.1508) and the breakdown of the weekly cloud (1.1515), the bearish sentiment must prevail today until next week as much as possible. In case of failure, the priority will shift to the recovery side of the center of attraction zone and uncertainty (1.1680).

Exchange Rates 10.08.2018 analysis

Because of the depth of the ascending correction, most of the lower time intervals are already tuned to support the players to increase and in no hurry to part with the bullish benefits. At the moment, the support zone 1.1580-70 (cloud H1 + cross H4) can play an important role. Preservation of the current location increases the chance of continuing the rise and return to the previous uncertainty zone, formed for a long time at higher times.

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.

Evangelos Poulakis
Analytical expert of InstaForex
© 2007-2024

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