20.07.202017:18 Forex Analysis & Reviews: Short-term Ichimoku cloud indicator analysis of EURUSD for July 20, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EURUSD remains in a bullish trend as price is still above the Daily Kumo and above the kijun-sen indicator. Price has recaptured 1.14 level and we are heading towards our next target at 1.15-1.1550.

Price is above both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). The Chikou span (black line indicator) is above the candlestick bodies. Support is found at 1.1360 and at 1.1315. The tenkan-sen (red line indicator) has crossed above the kijun-sen (yellow line indicator) and this is a bullish sign. Key support remains at the upper cloud boundary at 1.12.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.