FX.co ★ Daily Ichimoku cloud indicator analysis on EURUSD for January 7, 2022.

EURUSD is making higher highs in the short-term as price has moved above 1.1350 on Friday. Price remains below the key resistance of 1.1390-1.1415. EURUSD is still below the Daily Kumo (cloud) resistance. The week was closed right below the key resistance.

EURUSD is still below the Daily Kumo. In Ichimoku cloud terms, trend remains bearish. Price is above the tenkan-sen and kijun-sen. These two indicators provide support at 1.1330 and 1.1305. Failure to stay above these levels will increase chances of a move towards 1.1150. Last time price tested the Kumo resistance, price got rejected. Bears need to show their strength now and push prices lower. If on the other hand bulls manage to break above 1.1360, Daily trend will turn to neutral.