EURUSD Technical Chart 10 Dec 2010

This is one of the example to use Doda-Donchian and Ichimoku indicator together.

From the last couple of days, we've witnessed range-bound price movement in EURUSD currency chart. Still, no one knows which position to take. The solution lies in Ichimoku indicator.

 

EURUSD technical chart



I've plotted Doda-Donchian and Ichimoku indicators in above chart. Just look at Kumo in the chart. The bottom line is flat. As explained in many of my previous posts, flat lines will always ATTRACT price. So, in this case, chart suggests that price will come down in coming days. So, avoid any long position till the price closes above kumo i.e. 1.33017 and confirmed by Doda-Donchian.

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