FX.co ★ Ichimoku cloud indicator analysis on EURUSD for April 7th, 2023.

EURUSD is trading around 1.09. Price remains in a bullish trend according to the Ichimoku cloud indicator. Holding above the Kumo (cloud) is important for the bullish short-term trend. Price has broken below the tenkan-sen (Red line indicator) and is challenging the kijun-sen (yellow line indicator). Support is found at the upper Kumo (cloud) boundary at level 1.0855. The Chikou span (black line indicator) remains above the candlestick pattern confirming that we remain in a bullish trend. Concluding, price continues making higher highs and higher lows. Short-term trend remains bullish and the Ichimoku cloud indicator confirms this.