FX.co ★ Ichimoku cloud indicator analysis on EURUSD for August 25th, 2023.

EURUSD is trading around 1.0810. Short-term trend remains bearish as price continues to stay below the 4hour Kumo (cloud) resistance making lower lows and lower highs. Price remains below both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Resistance by the tenkan-sen is found at 1.0815. Resistance by the kijun-sen is at 1.0848. As long as price is below these two levels, price will remain vulnerable to more downside. The Chikou span (black line indicator) remains below the candlestick pattern (bearish). For trend to change to neutral, EURUSD must push above 1.0890. Bears remain in control of the trend according to the Ichimoku cloud indicator. So far there is no sign of a reversal to the upside.