FX.co ★ Ichimoku cloud indicator analysis on EURUSD for December 19th, 2022.

EURUSD is trading around 1.06. The week started on a positive note and price trading just above key support. At 1.0590 we find the tenkan-sen (red line indicator) and a daily close below this level will open the way for a decline towards the kijun-sen (yellow line indicator) at 1.0480. The kijun-sen if broken will provide a new bearish signal that would push price towards the cloud support around 1.01-1.02. The Chikou span (black line indicator) remains above the candlestick pattern thus bullish. So far we have no reversal confirmation.