Short-term Ichimoku cloud indicator analysis of EURUSD

Trading 23 mar 2020 Donner votre avis

EURUSD bounced today towards 1.0830 but bulls were not strong enough to push price above the kijun-sen resistance. Trend remains bearish despite price moving above the tenkan-sen indicator.

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EURUSD remains in a bearish trend. Price is struggling to stay above the tenkan-sen (red line indicator). Short-term resistance is at the kijun-sen (green line indicator) at 1.0840. Bulls need to break above this level in order to push price towards the Kumo which is the major short-term resistance at 1.11. As long as price is below the Kumo trend is bearish. So far we have no reversal signal. At 1.0830-1.0840 we have a double top. Breaking above this level we will also get a technical bullish signal. Support is at 1.0665.

The material has been provided by InstaForex Company - www.instaforex.com

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