FX.co ★ EURUSD shows short-term signs of strength entering the Ichimoku cloud.

EURUSD is making new higher highs and has entered the Ichimoku cloud resistance area. Trend is now neutral in terms of the Ichimoku cloud indicator on a daily basis. As long as price is inside the Cloud, we consider trend is neutral.

EURUSD has held above the tenkan-sen (yellow line indicator) and the kijun-sen (green line indicator). The tenkan-sen is also crossing above the kijun-sen. This is a weak bullish signal. Price entering the body of the cloud is a sign of strength since it comes from below. Next key resistance is the upper cloud boundary at 1.1065. Breaking above this level would be a big win for bulls. Support remains key at the lower cloud boundary at 1.0960 and next at 1.087-1.0880.