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Ichimoku Indicator

30.03.202314:45 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for March 30th, 2023.

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EURUSD is trading around 1.0890. Short-term trend remains bullish as price continues to trade above the Kumo (cloud). Recently we got another bullish signal by the cross of the tenkan-sen (red line indicator) above the kijun-sen (yellow line indicator). Support by the tenkan-sen is at 1.0858 and by the kijun-sen at 1.0805. Close to the kijin-sen we also find the upper cloud boundary that provides support at 1.0822. The Chikou span (black line indicator) has also recently crossed above the candlestick pattern. This is a bullish sign. Price continues making higher highs and higher lows in the 4 hour chart maintaining the bullish momentum. Only a break below 1.0720 will make us consider calling short-term trend reversal.

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