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EURUSD capped by cloud top; neutral in short term

From xm.com

EURUSD has turned neutral in the short term after falling into to the Ichimoku cloud. But despite being restricted by the cloud top, the risks for the pair are to the upside as the RSI is still in positive territory, though it has flatlined, while the MACD remains some distance above zero, having just slipped below its red signal line. Another positive signal is from the Tenkan-sen line, which continues to rise and increase its distance from the Kijun-sen line. The Tenkan-sen line, currently at 1.1125, is likely to be the next hurdle for EURUSD should it manage to overcome immediate resistance at the top of the cloud ... (full story)

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  • Category: Technical Analysis