FX.co ★ Ichimoku cloud indicator analysis on EURUSD for January 26th, 2023.

EURUSD is trading around 1.09. Short-term trend according to the Ichimoku cloud remains bullish. Price made a new higher high earlier today at 1.0929, but price is challenging the short-term support by the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). At 1.0866 we find the kijun-sen. A break below this level will imply more weakness is expected and price should at least test the upper cloud boundary at 1.0824. So far there is no change in trend in the 4 hour chart. Bulls remain in control today as well.