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

According to the Ichimoku cloud indicator EURUSD is in a bearish trend as price is below the cloud in the Daily chart. Key short-term resistance is at 0.9870 as a daily close above this level will be a short-term bullish signal that could push price towards the cloud at 1.0075. Price is above the tenkan-sen (red line indicator). The tenkan-sen provides short-term support at 0.9780. A daily close below this level will be a bearish sign. The kijun-sen (yellow line indicator) is at 0.9870 and bulls need to break above it in order to produce a bullish signal. Currently the Daily chart continues to show that EURUSD remains vulnerable to the downside. In order to see a larger trend change, we need to see price break above the Kumo (cloud) and the tenkan-sen cross above the kijun-sen. EURUSD remains in a bearish trend.