FX.co ★ Ichimoku cloud indicator analysis of EURUSD for November 27, 2019

EURUSD is in bearish short-term according to the Ichimoku cloud indicator as price is below the Kumo (cloud) and below both the tenkan- and kijun-sen indicators.

EURUSD is below the Kumo challenging again the important 61.8% Fibonacci retracement level. Breaking below 1.10-1.0990 area we should expect more downside towards 1.0950 at least. Resistance is found at 1.1030. A bounce towards that level should soon be expected. A rejection will confirm that we are heading towards 1.09. If bulls manage to recapture 1.1030 we could next see a bounce towards the next important resistance at 1.1075.