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FX.co ★ Ichimoku cloud indicator analysis on EURUSD for April 6th, 2023.

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Forex Analysis:::2023-04-06T12:16:21

Ichimoku cloud indicator analysis on EURUSD for April 6th, 2023.

Ichimoku cloud indicator analysis on EURUSD for April 6th, 2023.

EURUSD is trading around 1.0915. Short-term trend remains bullish as price is still above the Kumo (cloud). Price pulled back and tested the kijun-sen (yellow line indicator). Thus far bulls remain strong and the kijun-sen is intact. Support by the kijun-sen is at 1.0881. Failure to stay above this level will push EURUSD towards the Kumo (cloud) support at 1.0858. Staying above the Kumo in the 4hour chart is imperative for the short-term bullish trend. The Chikou span (black line indicator) is trading around the candlestick pattern. There is no clear indication from the Chikou span regarding the trend.

Analyst InstaForex
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