Bullish trend on EURUSD stopped at (5/8) 1.1350 what is not surprise because rarely happens that this level is broken at the first time. Important fact is that on February 3rd there was a break above from symmetric triangle and the day later price is still above this pattern. Often happens that after this kind of break pair is going back to dominating trend which stays bullish on EURUSD. Today pair is testing (2/8) 1.0986 support line. We still cannot exclude quick drop to trend line and triangle with band at 1.0900. This is a level where fight between bulls and bears will be the most important.
You can read Ichimoku strategy description here.
First signal of setting local low will be breaking Kijun-sen 1.1076 but only break above Tenkan-sen 1.1183 will be a signal to buy. Remember that (8/8) line is all the way up on 1.1719 so potential range of move is really big here. On the other side if these resistances will not bebroken, EURUSD will come back to consolidation area from December 2015 with support at 1.0742.
YOU CAN TRADE USING ICHIMOKU STRATEGY WITH FREE FXGROW ACCOUNT.
