For Traders

Analytical Reviews

Ichimoku Indicator

19.05.202220:38 Forex Analysis & Reviews: Ichimoku cloud bullish signal in EURUSD.

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.

In the 4 hour chart of EURUSD we see price breaking out of the Kumo (cloud). This is a bullish sign. Price initially tested the cloud and got rejected yesterday. However price formed a higher low and as we explained in our technical analysis, this bullish setup provided hopes for a move higher.

The tenkan-sen (red line indicator) is above the kijun-sen (yellow line indicator). Both are starting to move higher. The Chikou span (black line indicator) is also breaking out and above the cloud resistance. Bulls now need to defend the cloud and not let price fall back inside or below the Kumo. Support is at 1.0498. As long as price is above the cloud, trend is bullish in the 4 hour chart according to the Ichimoku cloud indicator.

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.