EUR/USD: Ichimoku analysis (Apr. 11)
Tatiana Norkina, FBS analyst
Daily. Last week the pair has recovered its positions. Ichimoku Cloud acted as a support around 1.3700, reversing the short-term trend to the upside. The pair broke above the Tenkan and Kidjun lines, pushing the pair up to 1.3900. The Cloud is becoming wider, but the dead cross remains in power. There is a chance for a decline towards Tenkan and Kijun lines.
Chart. Daily EUR/USD
H4. The pair broke above the Ichimoku resistance and went into the positive zone. However, a strong resistance lies at 1.3900, so the pair may correct to 1.3825 (upper boarder of the Cloud). Ichimoku indicator turned bullish: there is a bullish cross, the Cloud itself is bullish too.
Chart. H4 EUR/USD