ProFX_Strategist
Short

Ready to break downwards any moment...

FX:EURAUD   Euro Fx/Australian Dollar
22 0 5
The Ichimoku system is basically a very advance indicator consisting of a set of Japanese moving-averages, & cloud supports & resistances...; it is said to be proven to yield highly accurate/precise results/predictions on price charts (as compared to the standard western MA indicators counterparts & standard support & resistance study)...

The Ichimoku system functions better & produce more accurate results on higher time-frame charts... When one truly knows how to read & inter-prate it; then it can become a very powerful & indispensable weapon to take on the markets (but I'm only just started-out on using it in my charts; kind of a noob level)...

Using this to tackle the EURAUD             pair right now;

I can see that the bright-green MA has crossed below the bright-red MA; as such, this signifies/warrants a change in trend/direction; for this case, it is a bearish signal... In addition, do note the really thin clouds that the price is currently sitting on/testing right now...; this indicates that the supports & resistances are very weak right below...; so I have a great expectation for this pair to drop right down anytime soon (without much of a hassle)...

(Important to note the standard support levels lines in Magenta color, as those will also dictate how the price will behave...)

As time progresses, the Ichimoku system will yield (along the way) new buy, sell, & or warning signals (e.g. to close or open positions)...

Best regards.
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