Today’s Forex Guide

Forex EUR/USD: Bearish sentiment below Ichimoku


7:00 AM (EST) Update

EUR/USD: Bearish sentiment below Ichimoku

Suggested positioning: Short positions below 1.094

Technical reasons: Unable to break above the pivot level at 1.09 the pair continues to consolidate below the Ichimoku cloud with the MACD line crossing below the signal line. With the Greece debt situation on tap, this could be a tricky trade and you need to manage your stop/ limit orders accordingly

Alternative Scenario: Above 1.094 look for more upside towards 23% Fibonacci at 1.1263

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.056 1.094 1.12


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