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EURUSD penetrates daily cloud base; n/t focus turns higher

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD Near-term action returns into daily Ichimoku cloud, base of which acted as strong resistance in past few days. Fresh attempts above bear-trendline, connecting 1.1712 and 1.1458 tops and daily Kijun-sen line at 1.1272, give positive signal and turn focus towards the upper boundary of near-term congestion at 1.131, also 61.8% of 1.1458/1.1103 and daily cloud top at 1.1356. The latter marks pivotal barrier and sustained break here is required to end near-term range phase and signal bullish

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