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Ichimoku cloud indicator analysis on EURUSD for December 2, 2021.

EURUSD is trading above the 4 hour Kumo (cloud) in the 4 hour chart. Price has broken above the cloud and is now back testing cloud support. As long as price is above the cloud, we remain bullish expecting more upside.

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Resistance by the kijun-sen (yellow line indicator) is at 1.1310 and by the tenkan-sen (red line indicator) at 1.1327. Breaking above these two levels is key for the continuation of the up trend. Support by the cloud is at 1.1285-1.1245. It is key for bulls to stay above the cloud. Failure to stay above the Kumo would be a bearish sign.The material has been provided by InstaForex Company - www.instaforex.com

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