Category Forex

EUR/USD . Ichimoku chart suggest weak support

$EUR/USD . Ichimoku chart suggest weak support

The daily Ichimoku chart for $EUR/USD is suggesting that the uptrend for EUR/USD is coming to an end.

1. We can see that the overall trend is flattening or hitting a plateau with the kumo turning flat.

2. A bearish cross seems to be forming between the Kijun sen and Tenkan sen

3. Support is thin at the kumo

4. Leading kumo seems to suggest a change in trend may be coming.



$EURUSD : Weak kumo support

The $EURUSD has fallen to 1.734 .

1. From the Ichimoku chart, we can see that a bearish cross may be forming.

2. The kumo support below is thin and there is a chance that it will goes through the support.

3. If it rebounds and did not clear 1.383, there is a chance that it will go down from there.

Watch out for the $EURUSD to break down.

$GBPUSD . Poise for a rebound?

$GBPUSD rebound

$GBPUSD Ichimoku chart is showing a possible rebound for the forex pair.

On the Ichimoku Daily Chart, it is showing possible support at around 1.5827 with previous Chikou Span support.

On top of that, GBP/USD has extended away from the Tenkan sen and it is likely to revert to ‘the mean’.