EURUSD technical chart | 14-Nov-2011

Here is a technical chart of EURUSD with Ichimoku Kinko Hyo indicator.

As seen the above chart, EURUSD currency pair is trading INSIDE kumo – which means no-trade zone. It’s better to sit on cash at this moment and wait for right opportunity.

Now, the big question is where is the opportunity? At the time of writing this post, EURUSD is trading at 1.37671 and I hope after few hours, it’ll CLOSE above kumo, which is its major resistance also. So, if it CLOSES above 1.3867, one can take long position here. Till then, wait…..