FX.co ★ Ichimoku cloud indicator analysis on EURUSD for April 24th, 2023.

EURUSD is trading at new short-term highs as price has broken above the 4 hour Kumo (cloud). Price action above the cloud resistance has provided us with a new short-term bullish signal. Short-term trend remains bullish. Price briefly broke below the 4 hour Kumo but never closed the candlestick below it. The tenkan-sen (red line indicator) has also crossed above the kijun-sen (yellow line indicator) providing an added sign of strength. Support by the cloud is found at 1.0975. Bulls need to defend this price level. The Chikou span (black line indicator) is above the candlestick pattern (bullish). Concluding, the cloud support remains respected and bulls in control of the trend.