FX.co ★ Ichimoku cloud indicator analysis on EURUSD for July 7th, 2022.

EURUSD is trading around 1.0170 just above yesterday's lows. There was an attempt by bulls to push prices higher. EURUSD climbed above 1.02 but got rejected at the tenkan-sen (Red line indicator) resistance. Trend remains clearly bearish. In order to see a stronger bounce higher, price must break above the tenkan-sen at 1.0220. Next meaningful bounce target if resistance is broken, is found at the kijun-sen (yellow line indicator) at 1.0318. Bears remain in full control of the trend as long as price is below the Kumo (cloud).