EURUSD technical chart | 09-Nov-2011

Here is a technical chart of currency pair EURUSD with Ichimoku indicator. Here I’ve removed all the components of Ichimoku except Kumo to show current price resistance.

EURUSD is trying to cross kumo from the last few hours. It’s facing tough resistance near the levels of 1.3817. If you look at kumo, it’s a flat line. So, it’ll surely cross this resistance area in next few hours and then it will move upward. The expected price movement of this currency pair has been drawn with blue pencil on the chart itself.