EURUSD is trading right above 1.21. Trend remains bullish but short-term trend is vulnerable to a move lower. Price is challenging both the tenkan-sen and kijun-sen indicators in the 4 hour chart. Breaking below 1.21 will open the way for a deeper pull back towards 1.20-1.2030.
EURUSD is trading above the 4 hour Kumo (cloud). Thus trend is bullish. Breaking below the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) will be a short-term bearish sign. Usually when price breaks below these two indicators, continues lower until price touches the upper cloud boundary. Currently this level is at 1.20. It is important to see the next couple of sessions if support at 1.21 will hold. If it does, then bulls could continue higher towards 1.22.
