EURSD is in bullish trend in the 4 hour chart according to the Ichimoku cloud indicator. Price is above the Kumo (cloud) support and above both the tenkan-sen (Red line indicator) and the kijun-sen (yellow line indicator).

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Support by the tenkan-sen is at 1.1994. A break below this level will most probably push price towards 1.1962. If this support fails to hold, then we should expect price to move towards the cloud support and test it. The Chikou span (black line indicator) is well above the candlestick pattern confirming the bullish trend we are in. Price continues making higher highs and higher lows and there is no sign of a top or a reversal.

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

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