EUR/USD: Ichimoku analysis (June 13)
The pressure on the European currency is becoming stronger. During the past week the pair didn’t manage to hold above Tenkan-sen. Powerful selling forced the prices to the bearish zone, strengthening the negative mood of the Ichimoku indicator – the main lines went down. Note, however, that Chinkou span is in the oversold zone. Therefore, in the near future EUR/USD can consolidate above $1.3500 figure.
Chart. Daily EUR/USD
H4. At H4 the slide was triggered early in the week when the prices weren’t able to stay inside the Ichimoku Cloud. Then euro breached the strong support in the $1.3600 figure, which led to the formation of a dead cross by Tenkan and Kijun. In addition, the bearish nature of the Ichimoku Cloud strengthened – Senkou Span A is directed downwards.
Chart. H4 EUR/USD