Ichimoku cloud indicator analysis on EURUSD for September 11th, 2023.
September 11, 2023 1:24 pm
EURUSD is trading around 1.0725. Short-term trend according to the Ichimoku cloud indicator remains bearish as price is still below the cloud. Price is trading between the tenkan-sen (Red line indicator) and the kijun-sen (yellow line indicator). The kijun-sen provides short-term resistance at 1.0740 and the tenkan-sen provides support at 1.0719. The Chikou span (black line indicator) remains below the candlestick pattern (bearish). So far there is no serious bullish reversal signal. Price justifies a bounce higher towards the cloud resistance around 1.0790. Bears remain in control of the short-term trend in EURUSD.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD is trading around 1.0725. Short-term trend according to the Ichimoku cloud indicator remains bearish as price is still below the cloud. Price is trading between the tenkan-sen (Red line indicator) and the kijun-sen (yellow line indicator). The kijun-sen provides short-term resistance at 1.0740 and the tenkan-sen provides support at 1.0719. The Chikou span (black line indicator) remains below the candlestick pattern (bearish). So far there is no serious bullish reversal signal. Price justifies a bounce higher towards the cloud resistance around 1.0790. Bears remain in control of the short-term trend in EURUSD.
The material has been provided by InstaForex Company – www.instaforex.com
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