FX.co ★ Ichimoku cloud break out for EURUSD on November 10th, 2022.

EURUSD is breaking out above the Daily Kumo. Price has broken above the cloud, pulled back to back test the upper cloud boundary and is now moving to new higher highs. Short-term trend remains bullish. On a daily basis we see an important bullish signal as price is moving above the cloud after June of 2021. EURUSD has been trading below the cloud for more than a year. This breakout is a very important sign, a very important reversal sign. The tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) both are positively sloped and below current price. Bulls are claiming control of the Daily trend.