EURUSD is trading around 1.0960. Price has made no real progress relative to yesterday. Price is now challenging the Kumo (cloud) support. Price is trading above the tenkan-sen (red line indicator) but is also trading inside the Kumo. A 4 hour candlestick close inside the cloud will change trend to neutral from bullish. The Chikou span (black line indicator) is now trading below the candlestick pattern (bearish). The kijun-sen (yellow line indicator) provides resistance at 1.0993. A break below 1.0948 would be a new sign of weakness. If price breaks below the tenkan-sen then we should expect a test of the lower cloud boundary. EURUSD bulls need to step in and help price bounce off the cloud support. This could be the fuel needed for bulls to start a new upward move to new short-term highs.
