Technical analytics

Ichimoku cloud indicator analysis of EUR/USD

EURUSD

The overall picture remained the same. Buyers are in control and the EUR/USD is still in an upward channel. Buyers, however, failed to advance beyond 1.1550. They posted a fresh high at 1.1570 and left the market. Sellers regained control at once and started to sell the euro towards 1.1520 where the sell-off slowed down. A fresh selling momentum emerged in the evening and the currency pair moved to 1.1500. The EUR/USD found fresh bids here and recovered to 1.1525 by the morning.


The Tenkan-Sen is located at 1.1500, acting as an additional support, the Kijun-Sen is at 1.1450, while the Chikou Span is somewhere in the 1.1520 area. The Kijun-Sen and the Tenkan-Sen are neutral, while the Chikou Span is moving downwards. The Ichimoku cloud is still heading north. The MACD indicator declined in the overbought territory. The resistance resides at 1.1550, the support comes in at 1.1500.


If sellers maintain control, a break below 1.1500 may occur in the coming sessions. They would target at 1.1470 after that.


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