FX.co ★ Ichimoku cloud indicator Daily analysis of EURUSD

The Ichimoku cloud indicator has not changed our current view and expectations for EURUSD. We continue to feel comfortable with our bearish scenario targeting 1.06-1.07, But there is no reversal confirmation yet.

In Ichimoku cloud terms EURUSD remains in a bearish trend. Price is below both the tenkan-sen and kijun-sen indicators. Resistance is at 1.0935. Breaking above it, will open the way for a move towards 1.1050. The Chikou span (black line indicator) is below the Kumo but price has just started moving above the candlesticks. There is no clear reversal to the upside signal yet. Trend remains bearish.