Ichimoku cloud indicator analysis on EURUSD for July 25th, 2023.
July 25, 2023 2:21 pm
EURUSD is trading below 1.1050. Price is making lower lows and lower highs as it breaks below the 4 hour Kumo (cloud). Price is breaking below support and is providing a new bearish signal. A 4 hour candlestick close below the cloud implies a trend change to bearish. The Chikou span (black line indicator) remains bearish below the candlestick pattern. price remains below the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). There is no sign of a reversal to the upside. With price breaking below the cloud we also have a change in trend from neutral to bearish.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD is trading below 1.1050. Price is making lower lows and lower highs as it breaks below the 4 hour Kumo (cloud). Price is breaking below support and is providing a new bearish signal. A 4 hour candlestick close below the cloud implies a trend change to bearish. The Chikou span (black line indicator) remains bearish below the candlestick pattern. price remains below the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). There is no sign of a reversal to the upside. With price breaking below the cloud we also have a change in trend from neutral to bearish.
The material has been provided by InstaForex Company – www.instaforex.com
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