EUR/USD: weekly Ichimoku analysis
D1. Last week the pair followed the bearish scenario. After the bulls failed to settle above Tenkan and Kijun on the daily timeframe was, the basic downtrend resumed, and the pair fell below the support line approaching 1.2600. The decline may extend further ignoring the Golden Cross, which in this configuration is a false signal to buy.
H4. At H4 the currency pair broke below support of the Ichimoku Cloud failing to gain a foothold in the positive area. Tenkan and Kijun formed a Dead Cross, and the Cloud has narrowed to a minimum. Therefore, in the near future EUR/USD is likely to continue the downward trend.