For Traders

Analytical Reviews

Ichimoku Indicator

28.03.202319:10 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for March 28th, 2023.

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.

EURUSD is trading around 1.0840. Daily trend according to the Ichimoku cloud indicator is still bullish. Price turned lower to back test the Kumo (cloud). Price respected the cloud support and is now bouncing higher. Price action so far is bullish. The Chikou span (black line indicator) is above the candlestick pattern (bullish). The tenkan-sen (red line indicator) is crossing above the kijun-sen (yellow line indicator). This is another sign of strength. Support by the cloud is at 1.0758. Bulls need to hold price above this level in order to maintain control of the trend. The tenkan-sen and the kijun-sen provide support at 1.0723-1.0741. As long as we trade above 1.0723-1.0741 bulls will remain in full control of the trend.

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.