EUR/USD: Ichimoku analysis (Mar. 21)
Tatiana Norkina, FBS analyst
Daily. Last week the pair corrected to the Tenkan and Kijun lines. Bulls failed to overcome the recent highs because of the market overbought conditions - that's what the Chinkou Span line showed. Late in the week the pair lowered to the Kijun support ($1.3760 area). Bulls can use this support next week. The uptrend remains active.
Chart. Daily EUR/USD
H4. The short-term tendency switched to bearish:Tenkan and Kijun lines formed a dead cross (С). Trade moved into the negative area, below the Cloud. Note that Ichimoku remains bullish despite all that. In the near term bulls can reattempt to take the market under control.
Chart. H4 EUR/USD