FX.co ★ Ichimoku cloud indicator Daily analysis of EURUSD

EURUSD is trading right on top of the Ichimoku cloud (Kumo) support. It is essential for the up trend to resume, price to remain above the cloud and break above 1.2190-1.22 resistance area.

EURUSD us bouncing off the cloud and recapturing the tenkan-sen (Red line indicator). The kijun-sen (yellow line indicator) is at 1.22. This is resistance. Support is found at the cloud's upper boundary near 1.2058. As long as price is above the Daily cloud, trend will remain bullish. Vulnerable but bullish. A sign of strength by bulls will be the recapturing of 1.22.