FX.co ★ Ichimoku cloud indicator analysis on EURUSD for March 2nd, 2023.

EURUSD is trading around 1.0605. In the 4 hour chart according to the Ichimoku cloud indicator, trend is bearish as price is again below the Kumo (cloud). Price bounced higher towards 1.0691 inside the Kumo, but bulls failed to hold price inside the cloud. EURUSD is trading below both the tenkan-sen (red line indicator) and the kiju-sen (yellow line indicator). Resistance by the kijun-sen is at 1.0612 and by the tenkan-sen at 1.0637. The Chikou span (black line indicator) is trading on top of the candlestick pattern. There is no clear indication by the Chikou span. EURUSD is trying to enter the Kumo once again. This would turn short-term trend to neutral.