For Traders

Analytical Reviews

Ichimoku Indicator

23.11.202317:17 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for November 23rd, 2023.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EURUSD is trading around 1.09. In Ichimoku cloud terms trend is still bullish as price is still above the 4hour Kumo (cloud). Currently price is trading around the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). The Chikou span (black line indicator) remains above the candlestick pattern (bullish). Yesterday price briefly broke below the kijun-sen but bounced back up. Now EURUSD is trading between the two indicators. Failure to hold above 1.0890 will open the way for another pull back towards the cloud support at 1.0820. A break above 1.0930 will open the way for new short-term highs in EURUSD. Bulls remain in control of the trend. So far no reversal signal.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.