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21.10.202115:40 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for October 21, 2021.

EURUSD is trading at 1.1647. Short-term trend remains bullish as price is above the Kumo (cloud) in the 4 hour chart. EURUSD has already reached our first target at 1.1670, but this pull back could provide a higher low and the start of the next leg higher.

Exchange Rates 21.10.2021 analysis

EURSD continues to hold above the 4 hour tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). These two indicators provide support at 1.1641 and at 1.1621. Breaking below the cloud support at 1.16-1.1590 would be a sign of weakness. Bulls do not want to see price break this level, instead they want price to move above 1.1670.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Alexandros Yfantis,
Analytical expert of InstaForex
© 2007-2021
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