02.12.202123:47 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for December 2, 2021.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EURUSD is trading above the 4 hour Kumo (cloud) in the 4 hour chart. Price has broken above the cloud and is now back testing cloud support. As long as price is above the cloud, we remain bullish expecting more upside.

Resistance by the kijun-sen (yellow line indicator) is at 1.1310 and by the tenkan-sen (red line indicator) at 1.1327. Breaking above these two levels is key for the continuation of the up trend. Support by the cloud is at 1.1285-1.1245. It is key for bulls to stay above the cloud. Failure to stay above the Kumo would be a bearish sign.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.