EURUSD is trading around 1.0533. According to the Ichimoku cloud indicator the Daily chart remains bearish as price is still below the Kumo (cloud). Price got rejected at the kijun-sen (yellow line indicator) resistance. Price is trading below the tenkan-sen (red line indicator). The last bounce in price found strong resistance at 1.0610. The Chikou span (black line indicator) is below the candlestick pattern (bearish). If bulls form a higher low and break above the kijun-sen resistance at 1.0610, then we should expect EURUSD to challenge the Kumo (cloud) resistance at 1.0780-1.08. Until then price remains vulnerable to more downside.
