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Ichimoku Indicator

17.08.202220:21 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for August 17th, 2022.

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Yesterday EURUSD closed above the kijun-sen. Today price is above the kijun-sen again and bulls try to defend this support level. Resistance is at the tenkan-sen (red line indicator) at 1.0245. The Kumo (cloud) is above price. This implies that Daily trend according to the indicator is bearish. Only a break above the cloud will change trend to bullish. We continue to consider this upward bounce from 0.9953 as a counter trend bounce.

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