FX.co ★ Ichimoku cloud indicator analysis on EURUSD for February 14, 2022.

EURUSD is under pressure. Price is challenging the key support at 1.13 where we find the lower cloud boundary in the 4 hour chart. Bulls do not want to see price break below the cloud support as this would be a bearish signal.

It was justified after a sharp rise from 1.1122 to 1.1485, to see a strong pull back. Price has retraced nearly 50% of the entire rise. Price has entered the Kumo (cloud) and is in danger of breaking below it. Bulls do not want to see this happening. It would be a sign of weakness. Resistance is at the upper cloud boundary at 1.14. A move above this price level would be a bullish signal and according to the ichimoku cloud indicator, it would turn trend to bullish. Currently and as long as price is inside the cloud, trend is neutral.