EURUSD: euro is losing momentum again
5/23/2016
Daily. European currency keeps floating. Last week, bears managed to get into the day-time Ichimoku cloud, regardless rather powerful support from the above line, approximately located at 1.1260. At the end of the week, the currency pair shifted the 2-month minimums to 1.1170, which hardly couldn’t have influenced the technical part: Tenkan-Sen and Kijun-Sen lines formed a death cross. This is why the question of uptrend movement renovation is now thrown into sharp relief. We do not exclude the possibility of short-term consolidation inside the cloud.
Chart. Daily EUR/USD
H4. Downtrend movement continues to progress. As it was reported previously, in this particular case, the Ichimoku indicator has already changed the direction two weeks ago. Last week trades, remarked by falling trend, made Tenkan and Kijun lines figure a yet another death cross and space the cloud out, stretching it downwards. That is to say, the bears are apparently dominating on the market yet. That is why, after carrying out an analysis of Kijun line (1.1260/70) we expect a change of local lower limits.
Chart. H4 EUR/USD
More:
https://new.fxbazooka.com/analytics/9028
5/23/2016
Daily. European currency keeps floating. Last week, bears managed to get into the day-time Ichimoku cloud, regardless rather powerful support from the above line, approximately located at 1.1260. At the end of the week, the currency pair shifted the 2-month minimums to 1.1170, which hardly couldn’t have influenced the technical part: Tenkan-Sen and Kijun-Sen lines formed a death cross. This is why the question of uptrend movement renovation is now thrown into sharp relief. We do not exclude the possibility of short-term consolidation inside the cloud.
Chart. Daily EUR/USD
H4. Downtrend movement continues to progress. As it was reported previously, in this particular case, the Ichimoku indicator has already changed the direction two weeks ago. Last week trades, remarked by falling trend, made Tenkan and Kijun lines figure a yet another death cross and space the cloud out, stretching it downwards. That is to say, the bears are apparently dominating on the market yet. That is why, after carrying out an analysis of Kijun line (1.1260/70) we expect a change of local lower limits.
Chart. H4 EUR/USD
More:
https://new.fxbazooka.com/analytics/9028