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FX.co ★ Ichimoku cloud indicator analysis on EURUSD for January 24th, 2023.

Ichimoku cloud indicator analysis on EURUSD for January 24th, 2023.

Ichimoku cloud indicator analysis on EURUSD for January 24th, 2023.

EURUSD is trading around 1.0875. Short-term trend remains bullish as price continues to trade above the 4 hour Kumo (cloud). The Kumo provides support at 1.08. As long as price is above this level, short-term trend will remain bullish. The tenkan-sen (red line indicator) is at 1.0881 and provides resistance for the Euro. The kijun-sen (yellow line indicator) is at 1.0855 and provides short-term support. The Chikou span (black line indicator) is bullish as it remains above the candlestick pattern. So far we have no sign of a reversal. EURUSD remains supported.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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