EUR/USD: weekly Ichimoku analysis (12/09)
Tatyana Norkina, FBS analyst
Daily. Last week the currency pair consolidated above the strong 1.2890 level. The market is strongly oversold these days, so bulls may recover in the area of the Tenkan line. At the same time, Ichimoku remains bearish.
Chart. Daily EUR/USD
H4. The sideways range we've seen last week is clearly assotiated with the indicator's lines on the H4. At the same time, Tenkan and Kijun formed a golden cross. If the bears manage to fix above this cross, the market will recover to 1.3000.
Chart. H4 EUR/USD