June 28, 2010

EUR/USD Reversal attempts in daily chart

EUR/USD WITH 50 DMA
EUR USD WITH ICHIMOKU CLOUD

  • The first chart shows Eur/Usd reversal attempts combining with 50 DMA. 
  • White arrows show how the pair got sold off from the 50 DMA. The pair is doing a similar set up now.
  • The second chart shows the resistance of the Ichimoku cloud. Even if the 50 DMA is taken out the cloud is looming large. Only a beak out and close above the cloud can be called as a valid reversal till then the pair will get sold off at every bounce.

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