FX.co ★ Ichimoku cloud indicator analysis on EURUSD for August 18th, 2022.

EURUSD is breaking down. Price today closed below 1.0160 key support by the kijun-sen (yellow line indicator) providing a new bearish signal. EURUSD remains below the Kumo (cloud) and this implies that trend according to the indicator remains bearish. The upside bounce was considered as a counter trend move and with price now moving lower below 1.01 there are increased chances of moving again below parity. If and when the tenkan-sen (Red line indicator) crosses below the kijun-sen, we will get another important bearish signal. The Chikou span (blue line indicator) is above the candlestick pattern. This is the only positive indicator in the Daily chart. If the Chikou span breaks below the candlestick pattern, we will get another bearish signal.