EURUSD is breaking below the tenkan-sen and kijun-sen indicators implying more weakness to come. Trend is neutral still as price remains inside the Kumo (cloud) but there is a tendency to move lower if price stays below 1.1760.

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In the Daily chart price is inside the Kumo. The Chikou span (black line indicator) is getting rejected at the candlestick formation and this is a bearish sign. Another bearish sign is the fact that today’s candlestick is highly likely to close below the tenkan-sen, Bulls need to act fast and push price above 1.18 soon in order to have hopes. The material has been provided by InstaForex Company – www.instaforex.com

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