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In ichimoku cloud terms, short-term trend is neutral as price entered the ichimoku cloud. Price continues making higher highs and higher lows but a rejection around 1.20-1.2050 would be a bearish signal.
Price is above both the tenkan-sen (Red line indicator) and the kijun-sen (yellow line indicator). If price breaks above the cloud resistance at 1.2092 then Daily trend will change to bullish. A rejection at current levels would push price towards the kijun-sen at 1.1890. Bulls do not want to see a rejection at current levels. Price is below the cloud and might be forming a head and shoulders pattern as we talked a couple days ago. Major support remains at 1.1750-1.17.¡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.