empty
 
 
31.01.2023 04:06 PM
Ichimoku cloud indicator analysis on EURUSD for January 31st, 2023.

This image is no longer relevant

EURUSD is now trading around 1.0850-1.0860. In the 4 hour chart EURUSD has entered the Kumo (cloud). Price has briefly broken below the cloud but all closing candles keep price inside the Kumo. According to the Ichimoku cloud indicator trend is neutral. Price is bouncing higher towards the kijun-sen (yellow line indicator) and the tenkan-sen (red line indicator). Resistance is at 1.0860-1.0870. Support by the cloud is at 1.0845. Today's low at 1.0829 is also very important. Short-term reversal will be confirmed on a break below today's low of 1.0829. Price has started forming lower lows and lower highs. There are increased chances of a bigger reversal.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback