Daily EUR/USD review as of 08/09/18. Ichimoku Indicator

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EUR / USD

A complete reversal was formed yesterday from the resistance encountered (trend correction + day Fibo Kijun 1.1630), players failed to decline. The day candle of the previous day looks some kind of uncertainty. To determine the bearish potential that would allow us to fight again for the weekly bearish trend recovery (1.1508) and the breakdown of the weekly cloud (1.1515), the bearish sentiment must prevail today until next week as much as possible. In case of failure, the priority will shift to the recovery side of the center of attraction zone and uncertainty (1.1680).

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Because of the depth of the ascending correction, most of the lower time intervals are already tuned to support the players to increase and in no hurry to part with the bullish benefits. At the moment, the support zone 1.1580-70 (cloud H1 + cross H4) can play an important role. Preservation of the current location increases the chance of continuing the rise and return to the previous uncertainty zone, formed for a long time at higher times.

Indicator parameters:

all time intervals 9 – 26 – 52

Color of indicator lines:

Tenkan (short-term trend) – red,

Kijun (medium-term trend) – green,

Fibo Kijun is a green dotted line,

Chinkou is gray,

clouds: Senkou Span B (SSB, long-term trend) – blue,

Senkou Span A (SSA) – pink.

Color of additional lines:

support and resistance MN – blue, W1 – green, D1 – red, H4 – pink, H1 – gray,

horizontal levels (not Ichimoku) – brown,

trend lines – purple.

* The presented market analysis is informative and does not constitute a guide to the transaction.

The material has been provided by InstaForex Company – www.instaforex.com