FX.co ★ Ichimoku cloud indicator analysis on EURUSD for February 23, 2022.

EURUSD remains in a bearish short-term trend according to the Ichimoku cloud indicator. Price is still below the 4 hour Kumo (cloud). Price is testing the lower cloud boundary once again today. Bulls need to break inside the cloud in order to change trend to neutral from bearish.

The tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) provide support at 1.1340-1.1330. If price breaks below this support area, price will be vulnerable to a move below 1.1290. If bulls manage to push inside the Kumo, then we should expect price to test 1.1390-1.14 area. Bulls need to break above the cloud in order to provide a bullish signal.