EURUSD continues to climb higher. Today price is at 1.2137 and bulls fight in order to push price above the Ichimoku cloud resistance at 1.2150-1.2170. In Ichimoku cloud terms trend remains neutral as we said yesterday as price is trading inside the Kumo.
Price is above the tenkan-sen (Red line indicator). Support by the tenkan-sen is at 1.2050. This is important short-term support. If price fails to stay above the tenkan-sen then we should expect a move below and out of the Kumo. Bulls need to recapture the kijun-sen (yellow line indicator) resistance at 1.2150 and push eventually price out of the Kumo. Price is now very close to key resistance. Traders need to be very cautious and not very optimistic. Bulls need to show more signs of strength.The material has been provided by InstaForex Company – www.instaforex.com
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