FX.co ★ Ichimoku cloud indicator analysis on EURUSD for June 27th, 2023.

EURUSD is breaking above the cloud in the 4h and daily chart. Short-term trend is changing to bullish again according to the Ichimoku cloud indicator. Price is trading above the Kumo (cloud) in the 4 hour chart. After the sharp pull back towards cloud support around 1.0850, EURUSD is moving above the Kumo and above both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Both provide support at 1.0928-1.0932. The tenkan-sen is now crossing above the kijun-sen providing an added sign of strength. The Chikou span (black line indicator) is also above the candlestick pattern (bullish). Support is key for the short-term at 1.09. As long as price is above this level we remain bullish short-term. EURUSD has more upside as long as it trades above the cloud.