FX.co ★ Ichimoku cloud indicator Daily analysis of EURUSD

EURUSD is under pressure again. Price could not remain above the tenkan-sen for a second day and 1.22 has been lost. This weakness is a short-term worrying sign, that implies a move lower is imminent.

EURUSD is trading below the tenkan-sen (red line indicator) for the second day. Support is at yesterday's lows at 1.2153 and if this level is broken, we should expect price to move lower towards the kijun-sen (yellow line indicator) at 1.2035. Short-term trend is vulnerable to a move lower. Bulls in order to avoid this should support price and push it above the short-term resistance and recent high at 1.2255.