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13.11.2023 06:40 PM
EURUSD is trading around 1.0688 above the Ichimoku cloud indicator in the 4 hour chart. Short-term trend remains in a bullish trend as price is still above the Kumo (cloud). Price is challenging the cloud support. Bulls seem to continue to have the upper hand. Price is trying to break above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). The Chikou span (black line indicator) is below the candlestick pattern (bearish) and trying to break above it.There is important resistance around 1.07. If bulls manage to stay above the cloud, then we could see a new upward move towards 1.0770. Support is at 1.0675. Bulls do not want to see price break below 1.0675.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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