29.09.201912:10 Forex Analysis & Reviews: Ichimoku cloud indicator short-term analysis of EURUSD for September 30, 2019

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EURUSD remains in a bearish trend making new 2019 lows after getting rejected once again at the short-term resistance of 1.1050-1.11. As long as price is below 1.1030 short-term trend remains bearish.

Resistance is found at 1.10-1.1035. Short-term trend remains bearish as long as we are below this range. Medium-term trend remains bearish as long as price is below the Kumo (cloud) now at 1.1220. Despite the new low other indicators like the RSI did not follow to new lows. The bullish divergence signs remain but still there no reversal as price continues to make lower lows and lower highs. A hint of a trend reversal will come with a daily close above 1.11. Until then we continue to consider each bounce as a selling opportunity.

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