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Ichimoku Indicator

10.02.202323:28 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for February 10th, 2023.

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EURUSD is trading below 1.07. Short-term trend remains bearish as price continues making lower lows and lower highs. Price remains below the Kijun-sen (yellow line indicator) in the Daily chart, suggesting more downside to be expected. Daily trend remains bullish but with price below the tenkan-sen (red line indicator) and the kijun-sen, EURUSD is vulnerable to testing the upper cloud boundary at 1.06. Resistance is at 1.0758. Next week we expect a bearish start for price to move lower towards 1.06.

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