Ichimoku Cloud Analysis – EUR/USD Forecast Today
Today, I’m looking at the EUR/USD pair which has recently broken above the daily Ichimoku cloud with the Tenkan line also crossing above the Kijun line. While the future cloud remains bullish, we still don’t have the final Ichimoku Kinko Hyo confirmation, which is the Chiko span breaking above the cloud. The bullish momentum has slowed down a bit as the pair found resistance at the 61% Fibonacci retracement level of 1.108. The event risks from the remaining of the week could make or break this new bullish trend so we will be on a close watch out. Of course, trading in the financial markets involves a risk of loss and you should only trade the money you can afford to lose.
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