Short term trend: Bearish
Ichimoku analysis (Daily chart):
Tenkan-Sen level: 1.2479
Kijun-Sen level: 1.2563
Ichimoku cloud top: 1.2743
Ichimoku cloud bottom: 1.2957
EUR/USD has slightly recovered till 1.2480 after making a low of 1.2358. Overall trend is weak as long as 1.2563(Kijun-Sen) holds.
The pair’s minor resistance is around 1.2530 and any indicative break above will target 1.2570/1.2630. The major support is around 1.2350 and any break below will target 1.2200/1.2087 (161.8% projection of 1.29941 to 1.2500 from 1.28859)
Recommendation: Sell EUR/USD around 1.2470, SL 1.2570, Target 1.21
Ichimoku analysis (Daily chart):
Tenkan-Sen level: 1.2479
Kijun-Sen level: 1.2563
Ichimoku cloud top: 1.2743
Ichimoku cloud bottom: 1.2957
EUR/USD has slightly recovered till 1.2480 after making a low of 1.2358. Overall trend is weak as long as 1.2563(Kijun-Sen) holds.
The pair’s minor resistance is around 1.2530 and any indicative break above will target 1.2570/1.2630. The major support is around 1.2350 and any break below will target 1.2200/1.2087 (161.8% projection of 1.29941 to 1.2500 from 1.28859)
Recommendation: Sell EUR/USD around 1.2470, SL 1.2570, Target 1.21