EUR/USD: what does Ichimoku tell?
Tatyana Norkina, FBS
Daily. The pair found support at the 1.3500 figure and started a corrective rebound, rising into the 1.3650 area by the end of the week. The Kijun-sen line limited the bullish attack. Market is seen trading in the Tenkan-Kijun channel, but the bearish trend remains active. The dead cross and the widening cloud will raise the bearish sentiment among the traders.
Chart. Daily EUR/USD
H4. The pair broke above the Ichimoku Cloud and is trying to fix in the positive area these days. Corrective growth could extend into the 1.3700 area. Otherwise one should prepare for a long-term consolidation that will start with a depreciation to 1.3550.
Chart. H4 EUR/USD