EURUSD rejected at Kumo (cloud) resistance

Energy and Metals Decline, Wheat Rallies Amid Disappointing Chinese Growth

Relevance up to 15:00 2022-06-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Exchange Rates 28.06.2022 analysis

 

EURUSD bulls made another attempt to enter the Daily Kumo (cloud). Yesterday the daily candle closed above the kijun-sen (yellow line indicator) and inside the Kumo (cloud). Today price is getting rejected. If things stay like this, price action will be bearish. Support by the tenkan-sen (red line indicator) is at 1.05. The cloud rejection today if combined with a close below 1.0573 (kijun-sen), will be a bearish signal. Failure to stay above 1.05 will also be a bearish signal. Bulls need to react now and recapture 1.0590. As long as price is below the Kumo we remain bearish.

 

Read more: https://www.instaforex.eu/forex_analysis/282263

Energy and Metals Decline, Wheat Rallies Amid Disappointing Chinese Growth

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