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.
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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