Short term trend: bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.2487
Kijun-Sen level: 1.2463
Ichimoku cloud top: 1.2536
Ichimoku cloud bottom: 1.2496
EUR/USD made a low of 1.2356 and has recovered from that level. The Overall trend is weak as long as 1.2536(Cloud holds.
The pair’s minor support is around 1.2350. On the downside break below will target 1.2263/1.2200.
EUR/USD on breaking of 1.2536 would extend gain to 1.2599/1.2630.
Recommendation: Sell EUR/USD around 1.2470, SL 1.2536, Target 1.2358.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.2487
Kijun-Sen level: 1.2463
Ichimoku cloud top: 1.2536
Ichimoku cloud bottom: 1.2496
EUR/USD made a low of 1.2356 and has recovered from that level. The Overall trend is weak as long as 1.2536(Cloud holds.
The pair’s minor support is around 1.2350. On the downside break below will target 1.2263/1.2200.
EUR/USD on breaking of 1.2536 would extend gain to 1.2599/1.2630.
Recommendation: Sell EUR/USD around 1.2470, SL 1.2536, Target 1.2358.