Ichimoku cloud analysis of EURUSD for April 7th, 2021

EURUSD is trading at 1.19 where we find the kijun-sen (yellow line indicator) resistance. A daily close above 1.1908 will open the way for a move higher towards the cloud resistance at 1.2050-1.21. A rejection here will push price back towards the tenkan-sen support at 1.18.

EURUSD continues its positive daily candlesticks as price breaks above the tenkan-sen (red line indicator). If bulls manage to capture the kijun-sen then we should see a move higher towards cloud resistance. Daily trend in terms of Ichimoku cloud indicator is still bearish as price is still below the cloud. Only in the 4 hour chart we had so far a trend change as price broke above the cloud. At the tenkan-sen (Red line indicator) we have important support (1.18-1.1820). The short-term trend changes if we break below that level.The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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