FXGlory Ltd
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EURUSD analysis for 26.09.2023
View attachment 8975
The EUR/USD currency pair exhibits a notable bearish bias based on the recent Ichimoku indicator readings. Observably, the candles are positioned below the cloud, suggesting a potential downside momentum. Further strengthening this bearish outlook is the conversion line's upward crossing over the baseline, yet still hovering below the candles. The last cloud's red coloration delineates a sell area, which indicates a prevailing selling pressure in the recent past. To further bolster the argument for a short position, the MACD indicator provides confirming evidence. Both the MACD and signal lines are below the histogram, underlining the bearish momentum. Such a confluence of indicators predominantly signals a strong case for short positions in the EUR/USD. Traders should, however, always approach such technical signals with caution and consider the broader market context and potential fundamental drivers.
FXGlory
26.09.2023
View attachment 8975
The EUR/USD currency pair exhibits a notable bearish bias based on the recent Ichimoku indicator readings. Observably, the candles are positioned below the cloud, suggesting a potential downside momentum. Further strengthening this bearish outlook is the conversion line's upward crossing over the baseline, yet still hovering below the candles. The last cloud's red coloration delineates a sell area, which indicates a prevailing selling pressure in the recent past. To further bolster the argument for a short position, the MACD indicator provides confirming evidence. Both the MACD and signal lines are below the histogram, underlining the bearish momentum. Such a confluence of indicators predominantly signals a strong case for short positions in the EUR/USD. Traders should, however, always approach such technical signals with caution and consider the broader market context and potential fundamental drivers.
FXGlory
26.09.2023
