Short Term trend: Bearish
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 1.2544
Kijun-Sen level: 1.2487
Ichimoku cloud top: 1.2455
Ichimoku cloud bottom: 1.2457
EUR/USD has made a high of 1.2576 and is retreating from that level. Intraday trend is weak as long as trend line resistance 1.2610 (trend line joining 1.28859 and 1.2839) holds.
The minor support is around 1.2480 (200 day HMA). Any indicative break will target 1.2430/1.2393.
The break of 1.2576 would extend gain to 1.2630/1.2675 in the short term.
Recommendation: Sell EUR/USD around 1.2540, SL 1.2610, Target 1.2480/1.2431.
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 1.2544
Kijun-Sen level: 1.2487
Ichimoku cloud top: 1.2455
Ichimoku cloud bottom: 1.2457
EUR/USD has made a high of 1.2576 and is retreating from that level. Intraday trend is weak as long as trend line resistance 1.2610 (trend line joining 1.28859 and 1.2839) holds.
The minor support is around 1.2480 (200 day HMA). Any indicative break will target 1.2430/1.2393.
The break of 1.2576 would extend gain to 1.2630/1.2675 in the short term.
Recommendation: Sell EUR/USD around 1.2540, SL 1.2610, Target 1.2480/1.2431.