FX.co ★ Ichimoku cloud indicator analysis on EURUSD for March 22, 2022.

EURUSD is trading around 1.1030. Short-term trend remains bullish as price continues to trade above the 4 hour Kumo (cloud). Earlier today price confirmed the support by the cloud as it tested it and now it bounces off of it.

EURUSD today pulled back to back test the cloud support. Support was held and respected. Price is bouncing off the cloud support. This is a bullish sign. Resistance by the kijun-sen (yellow line indicator) is at 1.1045 and bulls need to break above this short-term resistance. Holding above the cloud is key for the short-term bullish trend. EURUSD recently provided us with a bullish signal when it broke above the cloud. For now bulls seem to keep control of the trend.