11.03.202218:28 Forex Analysis & Reviews: EURUSD gets rejected again at cloud resistance.

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 price action is bearish. Price remains in a bearish trend according to the Ichimoku cloud indicator as price is below the Kumo (cloud). However recent price action confirms that bulls remain weak as they are unable to break above the cloud resistance even in the 4 hour chart.

EURUSD is trading below the Kumo. Price is getting rejected once again when it reached the lower cloud boundary. This is a bearish sign and unless bulls manage to push price above 1.10, we should expect the Daily close to be close to new lower lows towards 1.09-1.0870. Resistance remains key at 1.10 and at 1.1085 where we find the upper cloud boundary. In order the Ichimoku cloud indicator to provide a bullish signal, EURUSD must push above 1.1085.

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.