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27.05.2022 03:45 PM
Ichimoku cloud indicator analysis on EURUSD for May 27, 2022.

EURUSD remains in a short-term bullish trend according to the Ichimoku cloud indicator. In the 4 hour chart price is not only above the Kumo (cloud), but also above both the tenkan-sen and kijun-sen indicators.

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The Chikou span (black line indicator) is also above the candlestick pattern confirming that trend remains bullish. Price continues making higher highs and higher lows. Support by the tenkan-sen (red line indicator) is at 1.0715 and by the kijun-sen (yellow line indicator) at 1.0704. This is key short-term support. If price fails to hold above this level, we should expect EURUSD to move lower towards 1.06 or where the upper cloud boundary will be at the time.
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