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28.08.202021:11 Forex Analysis & Reviews: Short-term Ichimoku cloud indicator analysis of EURUSD for August 28, 2020

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EURUSD remains in a bullish trend as we have mentioned before in our analysis. As long as price is above 1.17 short-term trend remains bullish. Today's break above 1.1850 and the fact that the weekly close will be above the last 4 weeks closing prices is another bullish sign.

EURUSD remains above the Daily Kumo (cloud) and the Chikou span (black line indicator) above the candlestick pattern. Both confirm bullish trend. EURUSD is moving back above the tenkan-sen while still respecting the support by the kijun-sen (yellow line indicator). Support remains at 1.1760 with resistance at 1.1930. A daily close above 1.1930 will open the way for a move towards 1.21.

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