EURUSD is trading around 1.0840. Daily trend according to the Ichimoku cloud indicator is still bullish. Price turned lower to back test the Kumo (cloud). Price respected the cloud support and is now bouncing higher. Price action so far is bullish. The Chikou span (black line indicator) is above the candlestick pattern (bullish). The tenkan-sen (red line indicator) is crossing above the kijun-sen (yellow line indicator). This is another sign of strength. Support by the cloud is at 1.0758. Bulls need to hold price above this level in order to maintain control of the trend. The tenkan-sen and the kijun-sen provide support at 1.0723-1.0741. As long as we trade above 1.0723-1.0741 bulls will remain in full control of the trend.
