The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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In the 4 hour chart EURUSD is in a bullish trend according to the Ichimoku cloud indicator. Short-term trend remains bullish as price is still above the Kumo (cloud). Price is now challenging the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). These two indicators provide support at 1.0688. A 4 hour candlestick close below this level will open the way for a move lower towards the cloud support at 1.0639. The Chikou span (black line indicator) is still above the candlestick pattern (bullish). On a daily basis EURUSD is in a neutral trend according to the Ichimoku cloud indicator as we showed yesterday, because price remains inside the cloud. Traders need to be very cautious because we are at a junction where medium-term trend could change to bullish.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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