05.07.202315:41 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for July 5th, 2023

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EURUSD is trading around 1.0897. Price is still above the Ichimoku cloud meaning that daily trend remains bullish. Price remains below the tenkan-sen (Red line indicator) at 1.0906 which provides the key short-term resistance. Price made a low today around 1.0867 just above the upper cloud boundary. As long as price trades above the Kumo, bulls will remain in control of the trend. The Chikou span (black line indicator) remains above the candlestick pattern (bullish). Bulls do not want to see price break below the Daily Kumo at 1.0823.

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