22.11.2022 03:23 PM
Ichimoku cloud indicator analysis on EURUSD for November 22nd, 2022.

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EURUSD is trading around 1.0275. Price is inside the 4 hour Kumo (cloud). Trend is neutral in the short-term. Price has the potential to push towards the upper cloud boundary resistance at 1.0295 as long as it holds above 1.0265. The kijun-sen (yellow line indicator) provides resistance at 1.0330. Bulls will need to break above it in order to reclaim control of the short-term trend. For now price remains vulnerable to a move lower. Major support is at the lower cloud boundary at 1.0111. The Chikou span (black line indicator) remains below the candlestick pattern, this must change in order for bulls to take control of the trend.

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