Technical Analysis – EURUSD’s pullback consolidates into Ichimoku cloud
Posted on February 1, 2021 at 9:22 am GMTEURUSD is currently edging sideways around the 50-day simple moving average (SMA) and crawling into the Ichimoku cloud, after a retracement from the recent 32½-month high of 1.2349. Despite the retraction, the slowed negative bearing in the red Tenkan-sen line and the flattening of the blue Kijun-sen line are both backing the stalling price action. Nonetheless, the climbing SMAs are retaining a bullish tone, which is nurturing the positive structure. Evaporating directional momentum is apparent in the short-term oscillators. Lately, [..]