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Ichimoku Indicator

19.01.202317:21 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for January 19th, 2023.

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EURUSD is trading around 1.0808. According to the Ichimoku cloud indicator trend in the 4 hour chart remains bullish. Price is still above the 4 hour Kumo (cloud). Price is trading below the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). This is a sign of vulnerability but not a reversal sign. The Chikou span (black line indicator) has moved below the candlestick pattern (bearish). The Kumo plays a very important role in our short-term view. Up to now there is no sign of reversal. Bulls remain in control of the trend. Resistance by the tenkan-sen and kijun-sen is at 1.0835-1.0840.

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