EURUSD is in a bearish trend in the 4 hour chart as price is below the Kumo (cloud) and both tenkan- and kijun-sen have negative slopes and price is below them as well. Bulls are trying to recapture the tenkan-sen while trend would change to bullish only on a break above 1.1120.
Price is trying to stay above the tenkan-sen (red line indicator). Next resistance is at the kijun-sen (green line indicator) at 1.1060. Recapturing 1.1060 would push price towards the cloud around 1.11. The Chikou span (black line indicator) also confirms short-term trend is still bearish and the importance of the 1.1060 resistance. Breaking above 1.1060 will push price higher towards 1.11 where the major short-term trend level is found.
