FX.co ★ Ichimoku cloud indicator analysis on EURUSD for December 2, 2021.

EURUSD is trading above the 4 hour Kumo (cloud) in the 4 hour chart. Price has broken above the cloud and is now back testing cloud support. As long as price is above the cloud, we remain bullish expecting more upside.

Resistance by the kijun-sen (yellow line indicator) is at 1.1310 and by the tenkan-sen (red line indicator) at 1.1327. Breaking above these two levels is key for the continuation of the up trend. Support by the cloud is at 1.1285-1.1245. It is key for bulls to stay above the cloud. Failure to stay above the Kumo would be a bearish sign.