Ichimoku cloud indicator analysis of EURUSD for August 27, 2021.

EURUSD has broken below the tenkan-sen and kijun-sen indicators and is testing the upper channel boundary. As we mentioned in our last analysis using Ichimoku cloud indicator, price has given us a sign of weakness by breaking below 1.1753. This has pushed price lower towards cloud support as expected.

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EURUSD has support at 1.1735. Bulls want to see price bounce off this level and continue higher and break above the tenkan-sen (Red line indicator). The tenkan-sen is short-term resistance at 1.1757. A break above this level will be a sign of strength. Bulls do not want to see price break inside and below the 4 hour Kumo (cloud). This would be a bearish sign. As long as price is above the cloud, there is potential to move higher towards 1.19.The material has been provided by InstaForex Company - www.instaforex.com

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