FX.co ★ Ichimoku cloud indicator analysis on EURUSD for March 29th, 2023.

EURUSD is trading around 1.0845. Trend in the 4 hour chart remains bullish according to the Ichimoku cloud indicator. Price is trading above the Kumo (cloud) and we recently seen the tenkan-sen (red line indicator) cross above the kijun-sen (yellow line indicator). These two indicators provide support at 1.0839-1.0822. It is important for the 4 hour candlestick pattern to respect this support level. Failure to do so would push price towards the Kumo at 1.0798. The Chikou span (black line indicator) is below the candlestick pattern (bearish). Resistance is found at 1.0890.