EURUSD is trading above the short-term cloud resistance at 1.0960. Price has broken above the 4hour Kumo and this is another bullish sign, following the weak bullish sign when the tenkan-sen crossed above the kijun-sen indicator.
EURUSD is trading around 1.0967. Price is above the Kumo. Staying above the cloud is crucial for the short-term trend. Both the tenkan-sen (yellow line indicator) and the kijun-sen (green line indicator) are positively sloped with price above them. Support by these two indicators is at 1.0935-1.0910. The Chikou span (black line indicator) is inside the Kumo. Bulls are gaining control of the short-term trend. Support at 1.0950-1.09 is crucial. Bulls need to stay above it. Failure to hold above it will be a bearish sign. EURUSD so far is making higher highs and higher lows in the 4 hour chart. This must continue in order for traders to see a change in the Daily trend as well. Until then we are cautiously bullish.
