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FX.co ★ Ichimoku cloud indicator analysis on EURUSD for January 19th, 2023.

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Forex Analysis:::2023-01-19T15:21:12

Ichimoku cloud indicator analysis on EURUSD for January 19th, 2023.

Ichimoku cloud indicator analysis on EURUSD for January 19th, 2023.

EURUSD is trading around 1.0808. According to the Ichimoku cloud indicator trend in the 4 hour chart remains bullish. Price is still above the 4 hour Kumo (cloud). Price is trading below the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). This is a sign of vulnerability but not a reversal sign. The Chikou span (black line indicator) has moved below the candlestick pattern (bearish). The Kumo plays a very important role in our short-term view. Up to now there is no sign of reversal. Bulls remain in control of the trend. Resistance by the tenkan-sen and kijun-sen is at 1.0835-1.0840.

Analyst InstaForex
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