FX.co ★ Short-term Ichimoku cloud analysis of EURUSD for March 22, 2021

EURUSD is trading at 1.1940 after making a new short-term low at 1.1874. Price remains below key Fibonacci resistance that led to a double rejection. In Ichimoku cloud terms price need to break above 1.1975 where we find the upper cloud boundary.

Price has entered the Ichimoku cloud and price is breaking above the kijun-sen and tenkan-sen. Holding above the kijun-sen is very critical for the short-term fluctuations. Breaking above the cloud and staying above it, is also critical. Support is at 1,1874 and a break below it will increase chances for a new low towards 1.1750.