Welcome to another episode of Ichimoku cloud analysis!
Today I’m looking at the EURUSD pair after the US dollar selloff in the past few days. This is just for practice purposes for you.
It’s the behind the scenes of my strategy development for TickMill, which is one of my clients who ask me to create trading strategies for them.
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I no longer personally trade forex.
However, I use Ichimoku cloud Analysis across all the assets that I invest in, including stocks, ETFs and cryptocurrency.
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I look at the markets based on my signature Invest Diva Diamond Analysis (IDDA) and combine it with the Ichimoku Kinko Hyo strategy development technique including indications from the Ichimoku cloud. The IDDA looks at investment strategies from 5 points: technicals, fundamentals, sentiment, capital, and overall.
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Fundamentals:
On Tuesday, Trump said it might be better to wait until after 2020 election for a China trade deal, France and the European Union they were ready to retaliate if Trump acted on a threat to impose duties of up to 100% on imports of French products, and the Euro zone’s Industrial producer prices went up by 0.1%. On Wednesday we have Canada’s rate decision and the US ISM Non-Manufacturing/Services Composite (NOV).
Technical Analysis
EUR/USD pair didn’t complete its Ichimoku breakdown last week and went on to break above the daily Ichimoku cloud on Tuesday. This again is a result of the USD selloff across the board we talked about yesterday. Now here, we still have another bullish signal to back this up; A double bottom bullish reversal chart pattern.
#1 Best Selling Author. Helping you accelerate your retirement with Triple Compounding™ Former engineer on a mission to help 1 million households take control of their finances. Founder & CEO of Invest Diva.
