empty
 
 
26.06.2022 06:12 PM
Ichimoku cloud indicator analysis on EURUSD for the week that ended June 24th, 2022.

This image is no longer relevant

EURUSD tried this past week to rally as Eurozone inflation remains high and the European Central Bank is getting forced to act. We use the Ichimoku cloud indicator in order to identify key resistance levels in order for trend to change to bullish. Trend remains bearish as price is still below the Daily Kumo (cloud). The tenkan-sen (red line indicator) provides support at 1.0480. As long as price is above this level, bulls have hopes for more upside. Last week bulls tried to penetrate inside the cloud, but their success was short lived. Price got rejected but the pull back did not push price below the tenkan-sen. 1.0570 remains a key resistance level on a daily closing basis. This is the first obstacle bulls need to overcome for a trend change to occur. Until then price is vulnerable to more downside.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback