Ichimoku cloud indicator analysis on EURUSD for April 25th, 2023.
April 25, 2023 4:24 pm
EURUSD is under pressure. Price is negative territory, despite making a higher high earlier today relative to yesterday. Price is now at 1.0987 but short-term trend remains bullish according to the Ichimoku cloud indicator. Price remains above the 4 hour Kumo (cloud). Support by the cloud is found at 1.0973-1.0953. As long as price is above this support area (cloud), bulls will continue to have the upper hand. The Chikou span (black line indicator) remains above the candlestick pattern (bullish). There are some signs of weakness but no reversal signal. So far support levels are being respected.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD is under pressure. Price is negative territory, despite making a higher high earlier today relative to yesterday. Price is now at 1.0987 but short-term trend remains bullish according to the Ichimoku cloud indicator. Price remains above the 4 hour Kumo (cloud). Support by the cloud is found at 1.0973-1.0953. As long as price is above this support area (cloud), bulls will continue to have the upper hand. The Chikou span (black line indicator) remains above the candlestick pattern (bullish). There are some signs of weakness but no reversal signal. So far support levels are being respected.
The material has been provided by InstaForex Company – www.instaforex.com
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