empty
 
 
03.09.2018 07:46 AM
Ichimoku cloud indicator analysis of EUR/USD for September 3, 2018

EUR/USD has pulled back towards 1.16 and lower as we expected. Price is now challenging important short-term cloud support. This pull back could already be over and we could see another leg higher starting in EUR/USD. For this to be true price will need to break above the cloud and stay above it.

This image is no longer relevant

EUR/USD has short-term support the recent lows at 1.1588. A break below this level will push price towards the lower cloud boundary at 1.1540. Short-term resistance is at 1.1630 and at 1.1660 by the kijun-sen (yellow line indicator). As long as the 4-hour chart shows prices closing below the kijun-sen, we should be expecting another leg down. EUR/USD could make a base at current levels and bounce off the cloud support. However, the longer price stays inside the Kumo (cloud) the chances of another leg down increase.
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In October we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback