EURUSD is trading at 1.1239; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.1305 and then resume moving downwards to reach 1.1055. Another signal in favor of further downtrend will be a rebound from the downside border of the Double Top reversal pattern.
However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.1345. In this case, the pair may continue growing towards 1.1434.
Orgin: RoboForex
