EUR/USD pair daily chart is shown with ichimoku cloud.
And this is the second time the pair is looking to go above the cloud after its fall below the cloud at 1.47 region.
The first attempt ended in failure with the 50 DMA and the cloud stopping it from going above.
The pair in this attempt seems to have cleared some distance from the 50 DMA. And the patterns from which the pair is trying to reverse is also looking good. The only negative point was the volume which i showed in my earlier post CLICK HERE TO SEE VOLUME ANALYSIS OF EUR/USD.
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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis." —Jesse Livermore