FX.co ★ Ichimoku cloud indicator analysis on EURUSD for April 12th, 2023.

EURUSD is trading at new weekly highs above 1.0990. Trend is bullish as price is still above the Kumo (cloud). Price recently pulled back to back test cloud support at 1.0850. Price briefly pushed inside the cloud to test support. Bulls have so far managed to respect cloud support and pushed price above the cloud once again providing a new bullish signal. The tenkan-sen (red line indicator) also crossed above the kijun-sen (yellow line indicator) providing another bullish sign. The Chikou span (blue line indicator) remains above the candlestick pattern (bullish). There is no sign of a reversal or sign of weakness. As long as price remains above the Kumo, bulls remain in control of the trend. Support is found at 1.09-1.0860.