FX.co ★ Ichimoku cloud indicator analysis on EURUSD for February 22nd, 2023.

EURUSD remains in a short-term bearish trend according to the Ichimoku cloud indicator. EURUSD provided the latest bearish signal when price broke down below the cloud at 1.0848. Price continues trading below the Kumo since then. The tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) are negatively sloped and above current price. They provide short-term resistance at 1.0660. A 4 hour close above this level could push EURUSD towards the lower cloud boundary at 1.0712. The Chikou span (black line indicator) is also below the candlestick pattern confirming trend is bearish. So far bears remain in control of the short-term trend. There is no sign of a reversal.