Ichimoku cloud indicator analysis on EURUSD for July 4th, 2023.
July 4, 2023 3:25 pm
EURUSD is trading around 1.09. According to the Ichimoku cloud indicator in the Daily chart trend remains bullish as price is still above the Kumo (cloud). Over the last three trading sessions EURUSD has failed to close above the tenkan-sen (red line indicator). The tenkan-sen provides key short-term resistance at 1.0923. The tenkan-sen remains above the kijun-sen (yellow line indicator) but if price remains below it, we could see price weakness and EURUSD entering the Kumo (cloud). The Chikou span (black line indicator) remains above the candlestick pattern (bullish). Support by the Kumo is at 1.0863. Bulls need to defend this. Breaking below this level will be a sign of weakness.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD is trading around 1.09. According to the Ichimoku cloud indicator in the Daily chart trend remains bullish as price is still above the Kumo (cloud). Over the last three trading sessions EURUSD has failed to close above the tenkan-sen (red line indicator). The tenkan-sen provides key short-term resistance at 1.0923. The tenkan-sen remains above the kijun-sen (yellow line indicator) but if price remains below it, we could see price weakness and EURUSD entering the Kumo (cloud). The Chikou span (black line indicator) remains above the candlestick pattern (bullish). Support by the Kumo is at 1.0863. Bulls need to defend this. Breaking below this level will be a sign of weakness.
The material has been provided by InstaForex Company – www.instaforex.com
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