FX.co ★ Ichimoku cloud indicator analysis of EURUSD

EURUSD remains in a bullish trend as price continues making higher highs and higher lows while respecting both the tenkan-sen and kijun-sen indicators. Price is approaching our target area of 1.2130-1.2140 as we explained in our last analysis.

Support by the tenkan-sen (red line indicator) is at 1.2030 and at 1.1996 by the kijun-sen (yellow line indicator). As long as price is above these two levels we expect price to continue higher in the short-term. Failure to hold above these two levels will open the way for a Kumo (cloud) test at 1.19.