Ichimoku cloud indicator analysis on EURUSD for September 14th, 2023.
September 14, 2023 3:25 pm
EURUSD is making new lower lows. Trend remains bearish as price got rejected at the cloud resistance earlier today. Price is well below the 4 hour Kumo (cloud). All indicators are 100% bearish. The Chikou span (black line indicator) is below the candlestick pattern (bearish) as it broke below it today. The tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) provide resistance at 1.0710. Near term trend remains in control by the bears. Bulls need to at least push price above 1.0730 in order for trend to change to neutral.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD is making new lower lows. Trend remains bearish as price got rejected at the cloud resistance earlier today. Price is well below the 4 hour Kumo (cloud). All indicators are 100% bearish. The Chikou span (black line indicator) is below the candlestick pattern (bearish) as it broke below it today. The tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) provide resistance at 1.0710. Near term trend remains in control by the bears. Bulls need to at least push price above 1.0730 in order for trend to change to neutral.
The material has been provided by InstaForex Company – www.instaforex.com
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