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Ichimoku Indicator

24.11.202317:24 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for November 24th, 2023.

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EURUSD is trading around 1.0936. In Ichimoku cloud terms, trend remains bullish in the near term as price continues to trade above the Kumo (cloud). The Chikou span (black line indicator) remains above the candlestick pattern (bullish). The tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) provide support at 1.0910. A 4 hour candlestick close below 1.0910 will open the way for a bigger pull back towards the cloud support at 1.0850. For the time being bulls remain in control of the trend according to the Ichimoku cloud indicator.

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