EUR/USD: weekly Ichimoku analysis
Tatyana Norkina, FBS analyst
Daily. The pair stayed under a strong bearish pressure last week. Bulls attempted to regain some ground, but didn't succeed much. Break below the important 1.3100 support let the pair to the 1.2900 figure, extending the bearish trend. Daily Ichimoku remains strongly bearish. Next meaningful support lies at 1.2890.
Chart. Daily EUR/USD
H4. Bearish trend on the H4 chart persists. Short-lived consolidation below the Tenkan and Kijun lines confirmed buyers' weakness. Ath the same tgime, the market needs to have a rest before resuming the upside. Oversold market conditions will likely trigger some consolidations above the recent lows.
Chart. H4 EUR/USD