EM Currencies Show Weakness On H1 Time
The above chart shows the hourly ichimoku cloud of FXCM's emerging market currencies index - EMBASKET. The observations are as follows:
- The lime green leading span A had crossed below the red leading span B.
- The forward cloud is light pink and indicates resistance.
- Price is below the black base line and the base line is moving in a bearish direction.
- The orange lagging span is below price, which is indicative of weakness.
These observations suggest an element of bearishness for FXCM's EMBASKET.
- The lime green leading span A had crossed below the red leading span B.
- The forward cloud is light pink and indicates resistance.
- Price is below the black base line and the base line is moving in a bearish direction.
- The orange lagging span is below price, which is indicative of weakness.
These observations suggest an element of bearishness for FXCM's EMBASKET.
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