Fundamental analysis

Ichimoku cloud indicator analysis on EURUSD for October 26th, 2022.

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EURUSD is trading around parity. In Ichimoku cloud terms, price remains in a bearish trend on a daily basis as price remains below the Kumo (cloud). The tenkan-sen (red line indicator) has crossed above the kijun-sen (yellow line indicator) and this is a positive signal for bulls. Support is found at 0.9875 and at 0.9790. It is imperative for bulls do defend these two support levels As long as price is above these two indicators, bulls have hopes for a bigger bounce and a major reversal.

The material has been provided by InstaForex Company – www.instaforex.com


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