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EURUSD bulls tried to move above the resistance of 1.0880-1.09 but they were unable. Price got rejected once again at the Kumo and this is a bearish sign. EURUSD is now approaching key short-term support.
EURUSD prices moved inside the Kumo initially but sellers were too strong. Price got rejected for the third time and is now again below the 4 hour cloud. Price is now challenging the tenkan-sen and kijun-sen ichimoku indicators at 1.0845-1.0830. Breaking below this support area will open the way for a move below 1.08 towards 1.07. Bulls need to recapture the 1.0890 level on a daily basis. By doing so, they will have given a bullish signal. This will open the way for a move towards 1.0950-1.10. As long as price is below 1.0890 on a daily basis, trend remains bearish. Next sell signal will come if price breaks below 1.0760. This will make us expect price to reach 1.0640.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.