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

EURUSD is trading around 1.0355 and price looks vulnerable to a deeper pull back towards cloud support. The tenkan-sen (red line indicator) has crossed below the kijun-sen (yellow line indicator). This is a sign of weakness. EURUSD is challenging the tenkan-sen support at 1.0350. Failure to hold above the tenkan-sen will lead price towards the Kumo (cloud) at 1.0230. The Chikou span (black line indicator) is above the candlestick pattern. A break below the candlestick pattern would be an added sign of weakness. Trend remains bullish in the 4 hour chart as price remains above the cloud. Resistance is found at 1.0375. Bulls need to break above this level in order to resume uptrend.