EUR/USD : Ichimoku poised for breakout

It seems like EUR/USD has lots of momentum and expectations behind it to push it towards 1.4

On the Ichimoku Chart, we can see EUR/USD just trading below 1.4 (at around 1.39)

Currently, there’s a pretty strong upwards movement and we can see that from the steep Tenkan sen and a ‘bullish’ cross below the kumo.

If it break out of the kumo, I am expecting EUR/USD to hit 1.44

It is fair to say that  a lot of it will depends on the outcome of the rescue packages in EU. Possible risk includes a much bigger rescue package required than what is expected.

By iam802

Trend trading with Ichimoku