empty
 
 
23.12.2019 10:27 PM
EURUSD bounces off cloud support as expected

EURUSD is bouncing off the Ichimoku cloud in the Daily chart as expected by our latest analysis. EURUSD bulls are trying to recapture 1.11. Bulls need to show more signs of strength in order to continue the bounce higher.

This image is no longer relevant

EURUSD has reversed its short-term trend after reaching the 61.8% Fibonacci retracement. Since then price has moved higher to break once again above the Kumo. Now price has back tested the cloud. Price is bouncing off the cloud and this is a bullish sign. Bulls do not want price to fall back inside the Kumo. This would be a bearish sign. We continue to favor the bearish scenario as long as price is above the recent lows at 1.1066.
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback