Short-term Ichimoku cloud indicator analysis of EURUSD for August 19, 2020

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Short-term Ichimoku cloud indicator analysis of EURUSD for August 19, 2020

Short-term Ichimoku cloud indicator analysis of EURUSD for August 19, 2020

EURUSD remains in a bullish trend. We use the Ichimoku cloud indicator to point at important support levels and targets if price breaks below certain support levels. The indicator confirms that short-term trend in the 4 hour chart remains bullish.

Short-term Ichimoku cloud indicator analysis of EURUSD for August 19, 2020

EURUSD is trading above the Kumo and above both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Support by the tenkan-sen and the kijun-sen is found at 1.1924 and 1.1873. Breaking below these levels will most probably push price towards the Kumo (cloud) at 1.1850-1.1820 support area. For now trend remains bullish and there is no sign of short-term top.The material has been provided by InstaForex Company – www.instaforex.com

Source : https://www.mt5.com/forex_analysis/quickview/184629/