EURUSD is trading above 1.06 once again. Dollar weakness across the board after the announcement of the Non-Farm Payrolls in US earlier today. Dollar is under pressure. In Ichimoku cloud terms in the 4 hour chart short-term trend remains bearish as price is below the Kumo (cloud). Price is trading above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). This is a sign of strength but as long as price is below the Kumo, we prefer to be neutral if not bearish. Resistance by the cloud is at 1.0643. Support by the tenkan-sen and kijun-sen is at 1.0557 and 1.0587 respectively. Bulls need to defend these levels in order to hope for a move higher.
