FX.co ★ Ichimoku cloud indicator analysis on EURUSD for February 20th, 2023.

EURUSD is trading around 1.0689. Trend according to the Ichimoku cloud indicator is bearish in the near term. Price is below the 4 hour Kumo (cloud). As long as this is the case, trend will be controlled by bears. Support is found at 1.0659 by the tenkan-sen (red line indicator). Resistance by the kijun-sen (yellow line indicator) is at 1.0710. There we also find the lower cloud boundary. So the area around 1.07 is an important area for the near term. The Chikou span (black line indicator) is below the candlestick pattern. This confirms bearish trend.