Ichimoku cloud indicator analysis of EUR/USD for June 11, 2018

The EUR/USD pair has pulled back on Friday towards 1.17 where it found support both at an upward sloping trend line and on the 4-hour Kijun-sen indicator. Trend remains bullish in the short-term as price is still above the Kumo (cloud) and as price continues to make higher highs and higher lows.

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Magenta line - trend line support

The 4-hour chart of the EUR/USD pair shows us a bullish short-term trend. Price has held above the trend line support and bounced off the kijun-sen support. All these are bullish signs. We should expect EUR/USD to continue higher above 1.19 over the coming weeks. Cloud support is at 1.1680. Technical support is now at 1.1750 where we also find the 4-hour kijun-sen now. Bulls do not want to see these levels broken.

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