logo

FX.co ★ Ichimoku cloud indicator analysis of EURUSD for April 14, 2021

Ichimoku cloud indicator analysis of EURUSD for April 14, 2021

EURUSD is trading around 1.1970 and remains in a short-term bullish trend. The Ichimoku cloud indicator confirms this as price is above the Kumo (cloud) in the 4 hour chart. In the Daily chart price is above both the tenkan-sen and kijun-sen indicators and is heading towards the Kumo (cloud) resistance as expected.

See also: Start Forex trading with a deposit starting from 1 USD.
Ichimoku cloud indicator analysis of EURUSD for April 14, 2021

EURUSD has support at 1.1860-1.1840 area by the tenkan-sen and kijun-sen indicators. The tenkan-sen (Red line indicator) is crossing above the kijun-sen (yellow line indicator) and this is a weak bullish signal. Price is getting closer to our bounce target of 1.2050-1.21 where we find the lower cloud boundary. This is important resistance. Price continues making higher highs and higher lows but the closer we get to the cloud, the less appealing it is to go long. Traders need to be cautious as price is approaching important resistance.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account