FX.co ★ Ichimoku cloud indicator Daily analysis of EURUSD

EURUSD has finally closed a daily candlestick above the tenkan-sen indicator. Our next bounce target is at 1.0947 where we find the downward sloping kijun-sen. Price could even reach 111 if bulls are strong enough.

EURUSD is crossing the tenkan-sen. Next bounce target is the kijun-sen. If that breaks also, then we should be prepared to see price challenge the Kumo. At this point what I see as most probable scenario, is that price reaches close to the kijun-sen (yellow line indicator) and fails to break it, leading to new lows.