Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

0

No products in the cart.

Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Ichimoku cloud indicator analysis of EUR/USD for August 17, 2018

August 17, 2018 Analytics

[ad_1]

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.

analytics5b766f316fde7.png

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.

The material has been provided by InstaForex Company – www.instaforex.com

[ad_2]

Source link

Write a comment