Technical Analysis

Ichimoku cloud analysis EURUSD

09-Nov-2021 16:52:56

The currency pair is trading at 1.1600 under the Ichimoku Cloud, suggesting a downtrend. A test of the lower border of the Cloud at 1.1605 is expected, followed by falling to 1.1505. An additional signal confirming the decline might become a bounce off the upper border of the descending channel, which is already being tested. The scenario can be canceled by a breakaway of the upper border of the Cloud and securing above 1.1635, which will mean further growth to 1.1725.

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