FX.co ★ Ichimoku cloud indicator analysis of EURUSD for November 25, 2019

EURUSD was unable to break above 1.1080-1.11 resistance area and is now breaking down below important Ichimoku cloud support. We have a cross of the tenkan-sen below the kijun-sen and a price break below the Kumo.

The last time EURUSD was around 1.10-1.0990 bounced above the cloud towards 1.11. Price is now breaking below the Daily Kumo and got rejected when it touched the kijun-sen (yellow line indicator). With a lower high in place at 1.1096 if price breaks below 1.0990. we have multiple bearish signals, increasing the chances of a move towards 1.0950-1.09. Bulls need to reclaim 1.1050 in order to have hopes for more upside.