Technical Analysis on EURUSD

Based on the Ichimoku system, the EURUSD seems to be in a consolidation. The lines Tekan Sen, Kijun Sen and Chikou Span, seem to be in range formation too. Due to the recent geopolitical turbulence in the Middle East, it could be noticed that traders seem to hold back and wait for the aftermath of those events. From a technical analysis point of view, if the price and the lines are out of the cloud, then traders could consider looking for signals.

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