Ichimoku cloud indicator Daily analysis of EURUSD

Trading 14 oct 2020 Donner votre avis

EURUSD yesterday broke below the tenkan-sen and kijun-sen indicators. Price is bouncing today but still below the key indicators. Current price action favors a deeper pull back. Bulls need to recapture the 1.1770 level.

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With price inside the Kumo trend is neutral. However price is showing more bearish signs. Price has broken below the tenkan-sen and kijun-sen. The Chikou span (black line indicator) is below the candlestick pattern. There are more signs of weakness than signs of strength. As long as price is below 1.1770-1.18 we expect more downside in EURUSD.The material has been provided by InstaForex Company - www.instaforex.com

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