The above chart shows the hourly ichimoku cloud of FXCM's emerging market currencies index - EMBASKET. The observations are as follows: - The lime green leading span A had crossed below the red leading span B. - The forward cloud is light pink and indicates resistance. - Price is below the black base line and the base line is moving in a bearish direction. - The orange lagging span is below price, which is indicative of weakness.
These observations suggest an element of bearishness for FXCM's EMBASKET.