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Ichimoku Indicator

22.10.202015:50 Forex Analysis & Reviews: Ichimoku cloud indicator Daily analysis of EURUSD

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Yesterday we mentioned the importance of the cloud break out in EURUSD. We also mentioned that a pull back and back test of the tenkan-sen and kijun-sen indicators would be a high probability.

As we said yesterday, EURUSD could get back inside the Kumo. This is what is going on today. Bulls need to defend that tenkan-sen and kijun-sen support indicators at 1.1785 and 1.1745 respectively. Breaking below this support level will increase chances the move above the cloud was a fake one. Bulls need tor defend 1.1750-1.1780 and eventually move back above the cloud to new higher highs.

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