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Our Ichimoku cloud indicator analysis has prepared traders for a move in EURUSD higher. Our last analysis has given 1.0945 as target which was achieved. There is potential for a move higher.
Red lines - downward sloping wedge patternEURUSD is bouncing very close to the lower wedge pattern boundary. Our analysis back in February 20th pointed out that a move above 1.0840 would be the signal for a trend reversal and a bigger bounce. Short-term trend is bullish and we now expect price to reach the upper boundary of the wedge pattern.
EURUSD has broken above the kijun-sen (yellow line indicator). Price should approach and test the Daily Kumo (cloud) resistance at 1.11-1.1050. Support is at 1.0935. Bulls do not want to see a daily close below that level.¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.