EUR/USD: weekly Ichimoku analysis
Tatyana Norkina, FBS
Daily. The currency pair renewed the weekly lows last week, descending to 1.3333. The bearish trend remains strong. Daily Ichimoku confirms the selling pressure: all the lines are headed to the downside. At the same time we see, that the pair is strongly oversold, what may cause a bullish correction.
Chart. Daily EUR/USD
H4. H4 Ichimoku also looks bearish. The pair tested the lower border of the Cloud, but failed to break inside. Tenkan and Kijun lines formed another dead cross, supporting new sales. However, the lines are now lying horizontally. For this reson we see a chance for a short-term flat trading and a retracement into the 1.3400 area.
Chart. H4 EUR/USD