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Ichimoku cloud indicator analysis on EURUSD for October 11, 2021.

EURUSD remains in a bearish trend according to the Ichimoku cloud indicator application in the 4 hour chart. Price is showing some reversal signs but trend remains bearish. Price is still below the 4 hour Kumo (cloud).

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Price has broken above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Support by these two indicators is at 1.1565-1.1570. A 4 hour close below this support area will be a sign that a new low could be coming soon. Resistance is found at the lower cloud boundary at 1.1620. As long as price holds above the 1.1565-1.1570 support, we should be heading towards the 1.1620 level and the cloud resistance.The material has been provided by InstaForex Company - www.instaforex.com