EURUSD: weekly review (19/12)
Tatiana Norkina analyst FBS
Daily. Last week the pair recovered to the lower border of Ichimoku cloud. But the bulls run out of power and the end of the week the pair was again in the negative area. Bears do not unloose the grip, continuing major downtrend.
At the same time, oscillators are growing and forming the divergence. In addition to this, the attention should be paid to Tenkan and Kijun lines that narrowed the range of the channel to the maximum. It is possible that after lows testing at the beginning of December, one will see the growth of the pair to the 24th figure.
Graph. Daily EUR / USD
H4. At the four-hour timeframe the trading moved into the negative zone below Ichimoku Cloud again. Here the indicator lines rebuilt and support the bears now. Therefore the dead cross was formed, and the cloud was descending, these facts can be taken as a confirmation of the downtrend continuation in the near future.
Graph. H4 EUR / USD