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Ichimoku Indicator

24.01.202318:06 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for January 24th, 2023.

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EURUSD is trading around 1.0875. Short-term trend remains bullish as price continues to trade above the 4 hour Kumo (cloud). The Kumo provides support at 1.08. As long as price is above this level, short-term trend will remain bullish. The tenkan-sen (red line indicator) is at 1.0881 and provides resistance for the Euro. The kijun-sen (yellow line indicator) is at 1.0855 and provides short-term support. The Chikou span (black line indicator) is bullish as it remains above the candlestick pattern. So far we have no sign of a reversal. EURUSD remains supported.

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