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Ichimoku Indicator

29.11.202314:33 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for November 29th, 2023.

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EURUSD is trading around 1.0980. In Ichimoku cloud terms trend remains bullish. EURUSD made a high at 1.1017 and has turned lower to test the tenkan-sen (red line indicator) support at 1.0976. The kijun-sen (yellow line indicator) provides support at 1.0952. A break below the kijun-sen will be a sign of weakness and will push price towards the cloud support at 1.0893. The Chikou span (black line indicator) remains above the candlestick pattern (bullish). So far there is no sign of reversal, bulls remain in full control of the trend.

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