EURUSD H1: The Ichimoku Forecast for the European Session at 25.11.2024
25.11.2024 09:16
Technical
One of the main signals of previous trading sessions was the intersection of the Tenkan and Kijun llines, This area is marked with a pink square on the graph. The rise of the Tenkan line above the Kijun line is a positive signal, which may indicate a possible change in the trend to an upward one.
The second most important signal is a change in the direction of movement of the cloud Kumo. This signal is marked on the chart with a vertical purple line. The orange color of the cloud indicates a change in the priority direction of movement to upward.
The current situation:
Let's look at the main components of the indicator and their current values:
The price is above the Tenkan and the Kijun lines. It indicates positive market sentiment.
The Kumo cloud is colored orange, indicating the market tendency to a continuing upward movement.
The price is below the Kumo cloud, which is now acting as a resistance area for the price.
Used by investors to identify a change in trend, the green Chinkou line is above the price on the chart.
Trading recommendations:
Dynamic support levels are on the Tenkan line, around the 1.04799 mark, and the Kijun line, around the 1.04163 mark.
Dynamic resistance levels are on the SenkouA line, around the 1.04923, and the SenkouB line, around the 1.05327.
The indicator signals predominantly support the upward vector of movement, so the upward bounce from the defined support levels signals are prioritized intraday.
The second most important signal is a change in the direction of movement of the cloud Kumo. This signal is marked on the chart with a vertical purple line. The orange color of the cloud indicates a change in the priority direction of movement to upward.
The current situation:
Let's look at the main components of the indicator and their current values:
The price is above the Tenkan and the Kijun lines. It indicates positive market sentiment.
The Kumo cloud is colored orange, indicating the market tendency to a continuing upward movement.
The price is below the Kumo cloud, which is now acting as a resistance area for the price.
Used by investors to identify a change in trend, the green Chinkou line is above the price on the chart.
Trading recommendations:
Dynamic support levels are on the Tenkan line, around the 1.04799 mark, and the Kijun line, around the 1.04163 mark.
Dynamic resistance levels are on the SenkouA line, around the 1.04923, and the SenkouB line, around the 1.05327.
The indicator signals predominantly support the upward vector of movement, so the upward bounce from the defined support levels signals are prioritized intraday.