Ichimoku cloud indicator analysis on EURUSD for June 20th, 2022 | InstaForex

EUR/USD Pair: A Pause In Growth In Anticipation Of New Important Information Is Expected

Relevance up to 15:00 2022-06-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Exchange Rates 20.06.2022 analysis

 

EURUSD is trading above 1.05. Even in the 4 hour chart price remains below the 4 hour Kumo (cloud). This indicates that trend remains bearish. Price is above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). This is supportive for the short-term. But bulls need to show more signs of strength and push price above the cloud. Support by the tenkan-sen is at 1.0495 and by the kijun-sen at 1.0480. Bulls need to defend these support levels. Failure to hold above these support levels will lead EURUSD back towards 1.03. Bulls are challenging the lower cloud boundary. They will need to break inside the cloud to change trend to neutral.

 

Read more: https://www.instaforex.eu/forex_analysis/280897

EUR/USD Pair: A Pause In Growth In Anticipation Of New Important Information Is Expected

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