Short term trend: bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.2401
Kijun-Sen level: 1.2479
Ichimoku cloud top: 1.2490
Ichimoku cloud bottom: 1.2467
EUR/USD made a low of 1.2356 and has recovered from that level. The Overall trend is weak as long as 1.2530 holds.
The pair’s minor support is around 1.2350. On the downside break below will target 1.2263/1.2200.
EUR/USD on breaking of 1.2530 would extend gain to 1.2599/1.2630.
Recommendation: Sell EUR/USD around 1.2435, SL 1.2531, Target 1.2263.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.2401
Kijun-Sen level: 1.2479
Ichimoku cloud top: 1.2490
Ichimoku cloud bottom: 1.2467
EUR/USD made a low of 1.2356 and has recovered from that level. The Overall trend is weak as long as 1.2530 holds.
The pair’s minor support is around 1.2350. On the downside break below will target 1.2263/1.2200.
EUR/USD on breaking of 1.2530 would extend gain to 1.2599/1.2630.
Recommendation: Sell EUR/USD around 1.2435, SL 1.2531, Target 1.2263.