EURUSD is trading at 1.19 with no sign of strength or sign of willingness to recapture recent highs. Price is sliding lower below the Kumo (cloud) strengthening the bearish view. In the 4 hour chart price is turning below the Kumo (cloud) providing another bearish signal.
Resistance by the cloud and the tenkan-sen and kijun-sen is found at 1.1915 and 1.1935. Staying below these two levels is key for the short-term trend. Staying below these two levels will open up the way for a move lower towards 1.18.
On a daily basis there is no real change. Price got rejected at the tenkan-sen (red line indicator) and continues lower. A daily close above 1.1950 is what bulls need in order to gather some momentum. Otherwise we should expect new lows.
