Technical analytics

Ichimoku cloud indicator analysis of EUR/USD

EURUSD

Disappointing Eurozone economic data added some downward pressure. The EUR/USD opened on a weaker note yesterday and remained well offered the whole day. Sellers tested the 1.1450 level in the night and spent the day trying to leave it. They managed to reach the mark 1.1420, where they found fresh bids and the euro returned to 1.1450 afterwards.


The Tenkan-Sen is located at 1.1440 where the upper end of the Ichimoku cloud is also located. This barrier was holding sellers' attack during the whole day. The Kijun-Sen coincided with the 1.1400 level, while the Chikou Span is somewhere in the 1.1450 area. The Kijun-Sen is neutral, the Chikou Span and the Tenkan-Sen are declining. The Ichimoku cloud turned neutral. MACD continued its decline in the positive area. The resistance resides at 1.1450, the support comes in at 1.1400.


The technical picture favors a downward extension. Sellers are targeted at 1.1400 and might reach this barrier in the coming sessions. A firm break below this handle could trigger fresh weakness for attack at 1.1380.