FX TECHNICAL ANALYSIS EUR/USD


At the end of the first quarter,


the price reached the


top of the Kumo cloud on the Monthly EURUSD chat. As the bul lish breakout wasn’t suppor ted by the Chikou Span, the price bounced back from the top in April and reached the Kumo bottom in May and June. Eventua lly the down movement was stopped by the strong resistance Kijun-Sen level so at the end of June the price was


s tuck


betwe en the Kijun and the Kumo levels.


On the Weekly EURUSD chart, the price spent the whole April in a bul lish position


as it was moving


above the Cloud and the Kijun-Sen. As it couldn’t reach new highs, it crossed down the Kijun level at the


beg inning of May and


continued its way down until it reached the Kumo top at


the end of May where it s tar ted to range dur ing June.


On the Daily chart – af ter the long


rang ing period in


April – the price performed a bearish Kumo breakout at the end of April and – as the movement was suppor ted by a ll Ichimoku components –


36 FX TRADER MAGAZINE July - September 2018 Figure 2: EURUSD Weekly


Figure 1: EURUSD Monthly


Figure 3: EURUSD Daily


it marched down to around the 1.1500 level smoothly.


The future di rection of this


currency pa ir depends on whether


it wil l break down


the Monthly Kijun suppor t level or it bounces up from


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57