empty
 
 
05.02.2021 03:34 PM
Weekly Ichimoku cloud analysis for EURUSD

EURUSD is trading at 1.1983 having broken the short-term support levels. Price is now challenging the kijun-sen (yellow line indicator) support at 1.1975. A move below it will increase chances that EURUSD continues its move lower towards cloud support at 1.15.

This image is no longer relevant

The Chikou span (black line indicator) is above the candlestick pattern but is turning lower. Support by the candlestick pattern is at 1.1860. If the Chikou span breaks below this level we expect price to move even lower.

This image is no longer relevant

Red line - support

The supportive trend line is broken. If price back tests the break out area we should see a bounce towards 1.2020-1.2040. Our initial target of this pull back remains the 38% Fibonacci retracement at 1.17.

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