Ichimoku cloud indicator analysis on EURUSD for June 28th, 2023.
June 28, 2023 4:24 pm
EURUSD is under pressure. Price is trading around 1.0915. Yesterday price broke out of the Kumo (cloud) providing a bullish signal. Today price remains above the cloud but is very likely we see a close below the tenkan-sen (red line indicator). A close below the tenkan-sen is not a reversal signal, but only a sign of weakness. This weakness can be temporary, but it can also be the start of something new. The cloud provides support at 1.0903. A daily close below this levle will open the way for a move lower towards the kijun-sen (yellow line indicator) at 1.0823.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD is under pressure. Price is trading around 1.0915. Yesterday price broke out of the Kumo (cloud) providing a bullish signal. Today price remains above the cloud but is very likely we see a close below the tenkan-sen (red line indicator). A close below the tenkan-sen is not a reversal signal, but only a sign of weakness. This weakness can be temporary, but it can also be the start of something new. The cloud provides support at 1.0903. A daily close below this levle will open the way for a move lower towards the kijun-sen (yellow line indicator) at 1.0823.
The material has been provided by InstaForex Company – www.instaforex.com
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