June 21, 2010

EUR/USD Approaching ichimoku cloud resistance

  • Euro has been moving up strongly.
  • Right now trading in an upward moving channel.
  • One can hold long as long as the channel holds.
  • The pair will find resistance around 1.26. This area being the previous resistance level and the daily ichimoku cloud is placed there too.
  • So for more upside targets the pair has to trade strong and break this resistance.

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