EURUSD price line, started moving within a sideway market at 13th of December 2022, right after it had finished its bullish trend. The price line is now inside the Ichimoku cloud and RSI is almost showing 50, indicating indecision in the market. MACD histograms are getting shorter, and a significant wave could be expected to occur shortly. Traders should keep a close eye on the chart to hunt the price line, breaking below the Ichimiku cloud, there they can enter short positions heading to the support levels mentioned below.

• There is a resistance level at 1.07362 followed by resistance at 1.08000 and 1.11300.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.