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Cable looks for retest of daily cloud base, after 30SMA was taken out

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The pair is looking for extended consolidation under fresh high at 1.1216, posted on 10Mar, which resisted repeated attack on Friday, when the pair closed in red. This signals strong hesitation under weekly Ichimoku cloud base at 1.1186, which was cracked on Thursday’s strong post ECB rally. Overall structure remains firmly bullish, following strong downside rejection that left double-bottom at 1.0820. Rising daily cloud (spanned between 1.1001 at 1.0927), continues to underpin the

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