Ichimoku cloud indicator analysis on EURUSD for September 5th, 2023.
September 5, 2023 2:23 pm
EURUSD is trading around 1.0739 clearly in a bearish trend as price is still below the Daily Kumo (cloud) and both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). On a daily basis bears remain in full control of the trend with no sign of a reversal. Both the tenkan-sen and kijun-sen are negatively sloped above price providing short-term resistance at 1.0831 and at 1.0914. The Chikou span (black line indicator) remains below the candlestick pattern (bearish). Technically EURUSD can continue lower towards the next major support around 1.0630. We remain bearish EURUSD.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD is trading around 1.0739 clearly in a bearish trend as price is still below the Daily Kumo (cloud) and both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). On a daily basis bears remain in full control of the trend with no sign of a reversal. Both the tenkan-sen and kijun-sen are negatively sloped above price providing short-term resistance at 1.0831 and at 1.0914. The Chikou span (black line indicator) remains below the candlestick pattern (bearish). Technically EURUSD can continue lower towards the next major support around 1.0630. We remain bearish EURUSD.
The material has been provided by InstaForex Company – www.instaforex.com
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