FX.co ★ Ichimoku cloud indicator analysis of EURUSD

EURUSD is making new lower lows towards 1.09. Price is moving lower as expected after breaking below 1.10 support level.

EURUSD bounce towards 1.11 has been followed by a rejection at the cloud resistance. Trend is clearly bearish as both tenkan- and kijun-sen are pointing lower, with price below the Kumo and the Chikou span well below candlestick formation. Any bounce towards 1.1010-1.1050 should find resistance at these levels and will most probably get rejected.