EM Currencies Show Weakness On H1 Time

EM Currencies Show Weakness On H1 Time for FX:EMBASKET by FXCM

EM Currencies Show Weakness On H1 Time



The above chart shows the hourly ichimoku cloud of FXCM’s emerging market currencies index – EMBASKET. The observations are as follows:
– The lime green leading span A had crossed below the red leading span B.
– The forward cloud is light pink and indicates resistance.
– Price is below the black base line and the base line is moving in a bearish direction.
– The orange lagging span is below price, which is indicative of weakness.

These observations suggest an element of bearishness for FXCM’s EMBASKET.

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