14.02.202218:01 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for February 14, 2022.

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EURUSD is under pressure. Price is challenging the key support at 1.13 where we find the lower cloud boundary in the 4 hour chart. Bulls do not want to see price break below the cloud support as this would be a bearish signal.

It was justified after a sharp rise from 1.1122 to 1.1485, to see a strong pull back. Price has retraced nearly 50% of the entire rise. Price has entered the Kumo (cloud) and is in danger of breaking below it. Bulls do not want to see this happening. It would be a sign of weakness. Resistance is at the upper cloud boundary at 1.14. A move above this price level would be a bullish signal and according to the ichimoku cloud indicator, it would turn trend to bullish. Currently and as long as price is inside the cloud, trend is neutral.

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