Technical analytics

Ichimoku cloud indicator analysis of EUR/USD


The EUR/USD pair remained well bid on Monday. Bulls broke the level 1.1400 in the Asian session, and continued rally towards 1.1450 afterwards. The level was broken in the early NY session. Bulls did not stop after that and dragged the rate to the 1.1480 region by the end of the US session. The single currency reversed its direction in the night and returned to 1.1440 by the morning. The Kijun-Sen is neutral, the Chikou Span and the Tenkan-Sen are growing. The Ichimoku cloud us growing as well. MACD grew in the positive area. The resistance resides at 1.1450, the support comes in at 1.1400.

The currency pair reached the December highs. The spot was rejected downwards last time when it touched the 1.1500 area. If the scenario repeats, the euro may ease to 1.1400. If buyers retain control, the pair may reach 1.1520 in the coming sessions.