FX.co ★ Ichimoku cloud indicator analysis on EURUSD for November 30th, 2022.

EURUSD is trading around 1.0370. Price has made no real progress over the last few days as it is trapped between 1.04 and 1.03. However price has managed to stay above the Kumo (cloud) which was tested several times. Short-term support is found at 1.0350 by the cloud. At 1.0357 we also find the tenkan-sen (red line indicator) providing support. The Chikou span (black line indicator) is below the candlestick pattern (bearish). Price is above the 4 hour cloud (bullish) but below the kijun-sen (yellow line indicator) at 1.0408. This is important short-term resistance. As long as price is below the kijun-sen, short-term trend will be vulnerable to the downside.