EURUSD remains in a bullish trend according to the Ichimoku cloud indicator and as price continues to move higher, the bullish scenario is becoming stronger. Bulls have recaptured the tenkan-sen and now face the kijun-sen.
The tenkan-sen (red line indicator) is support at 1.2137. The kijun-sen (yellow line indicator) is resistance at 1.22. Holding above the Kumo (cloud) and breaking above 1.22 would be another bullish sign. The Chikou span (black line indicator) is on top of the candlestick pattern and slightly above it. This indicator is slightly bullish as long as it holds above the candlesticks. All in all a bullish picture for EURUSD according to the Ichimoku cloud indicator.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaForex Group © 2007-2021
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.