EURUSD | Rejected by Ichi Cloud

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Price was rejected by Ichi Cloud resistance zone, also by Higher Boundary of a Descending Channel.

However we have a 50 MA acting as a dynamic support. In case there is a confirmed breakout of the 50 MA we can initiate a short position.

Also we can initiate a short position if price breaks the Mid Line of a Descending Channel.

The price will turn to be bullish if there is a breakout of the Ichi Cloud resistance zone + 200 MA.

Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!

Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.

The information given is not a Financial Advice.