Ichimoku cloud indicator analysis of EUR/USD for August 17, 2018
EUR/USD plan remains unchanged to our last analysis. The price remains above short-term support of 1.1350 and we expect prices to move towards the previous support level and now resistance at 1.15 and close to the Ichimoku cloud resistance.
Red line – resistance
Blue line – downward sloping trend line resistance
Green lines – expectation
EUR/USD is holding above the tenkan-sen (red line indicator) while the tenkan-sen is breaking above the kijun-sen (yellow line indicator). This is a weak bullish sign, that justifies a bounce towards 1.1450-1.15. The trend remains bearish in the medium-term and will remain bearish as long as the price is below 1.1570-1.16.