FX.co ★ Ichimoku cloud indicator analysis on EURUSD for January 27th, 2023.

EURUSD is under pressure. Price has broken below the tenkan-sen (Red line indicator) and the kijun-sen (yellow line indicator) suggesting that a move even lower towards the cloud support is justified and possible. EURUSD is showing signs of vulnerability. Trend remains bullish as price is still above the Kumo (cloud). Cloud support is found at 1.0844 and a break below this level will change trend to neutral.We have talked about the bearish RSI divergence in the Daily chart, traders need to be cautious as a trend change is imminent.