FX.co ★ Ichimoku cloud indicator analysis on EURUSD for October 20th, 2022.

EURUSD is trading around 0.9790. In Ichimoku cloud terms price is still in bearish trend as price remains below the Kumo (cloud). Currently price is trapped between the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Support by the tenkan-sen is at 0.9755. Bulls must defend this level. Price is now currently on top of the kijun-sen only because the indicator has declined. Price has not made any real progress to the upside. Cloud resistance is at 1.0075 and as long as we trader below this level, EURUSD will remain vulnerable to the downside.