3 Potential Bearish Opportunities
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Key Points
- GBPUSD Bearish clues
- EURUSD Bearish Kumo Breakout
- XAUUSD may start a new down trend
For the past 2 months GBPUSD based on the Ichimoku system the price is out of the cloud and the tekan sen and kijun sean seem to be in a bearish formation.
The chikou span is below the price meaning that the small downtrend it formed there may continue.
But before we start looking for any bearish signals we need to have bounce on the tekan sen or kijun sen.
GBPUSD DAILY CHART
EURUSD
Based on Ichimocu system it can be observed that the price is below the cloud the kijun sen and the tekan sen seem to be in a bearish formation. The chikou span appears below the price.
The picture here seems to be bearish for the moment.
Other clues here that may state a bearish momentum are the clolor of the cloud Red and the slope of tekan sen.
Now based on the Ichimocu system we would like to see here is the possibility of the price to bounce on the tekan sen start looking for any potential signals.
EURUSD DAILY CHART
On XAUUSD it can be observed that the price has formed a confirmed kumo break out yet based on the Ichimocu system.
The tekan sen and kijun sen seem to be in bearish formation, the chikou span is below the price and the cloud seems to be on the bearish mode.
What we would like to see here before start looking for any potential signals is the bounce of the price on the tekan sen line.
XAUUSD DAILY CHART
About the Author:
Marios Athinodorou is TeleTrade’s market analyst and commentator. Apart from being an experienced trader, Marios is an advanced technical analyst and is interested in trading psychology. He has 7 years of trading expertise in Forex and CFDs, providing insights to share with all kinds of traders, from beginners to experts. Among others, Marios is delivering weekly trading webinars. Sign up for upcoming webinars, here.
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