Forex: Euro To US Dollar - Let's Look At Ichimoku Cloud Analysis

The EUR/USD Pair Could Resume Its Larger Degree Downtrend

Relevance up to 15:00 2022-07-08 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 07.07.2022 analysis

 

EURUSD is trading around 1.0170 just above yesterday's lows. There was an attempt by bulls to push prices higher. EURUSD climbed above 1.02 but got rejected at the tenkan-sen (Red line indicator) resistance. Trend remains clearly bearish. In order to see a stronger bounce higher, price must break above the tenkan-sen at 1.0220. Next meaningful bounce target if resistance is broken, is found at the kijun-sen (yellow line indicator) at 1.0318. Bears remain in full control of the trend as long as price is below the Kumo (cloud).

 

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The EUR/USD Pair Could Resume Its Larger Degree Downtrend

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