FX.co ★ Ichimoku cloud indicator analysis on EURUSD for October 24th, 2022.

Last Friday EURUSD bulls stepped in and showed some support to the fx pair. In Ichimoku cloud terms trend remains bearish in the Daily chart as price remains below the Daily Kumo (cloud). EURUSD has broken above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). As long as price is above these two indicators that provide support at 0.9766 and 0.9793 respectively, there are increased chances of price approaching and testing the cloud resistance at 1.0050. Failure to hold above the tenkan-sen will be a new bearish sign. Bulls want to see price break out and above the Kumo. A cross of the tenkan-sen above the kijun-sen would also be a sign of strength.