Tatyana graduated from Bashkir State University with the major of Applied Mathematics and IT. She used to work as a system analyst in a large IT company. Entered the financial markets in 2008. Her trading system is based on classical technical analysis, Ichimoku indicator and the elements of fundamental analysis. Tatyana is very dedicated to her family and children. In her free time she enjoys rising a bicycle.

EUR/USD remains under pressure

Tatyana Norkina, FBS analyst

The pair returned to recent levels despite the sharp movements at the end of last week. However, resistance at $1.3650 prevents the bulls from acting with full force: it has been capping the prices here for the past 2 weeks.

Ichimoku indicator. The situation is very ambiguous in terms of the indicator – the lines on the all timeframes are arranged horizontally. But if at H4 the primary downtrend is in place, at H1 the Cloud has become bullish. So, the bears don’t have indisputable advantage.

At the same time, at H4 Tenkan and Kijun formed a Dead Cross, which will continue to hamper the pair. In this situation we’d prefer to stay out of the market, as there are no clear signals.

Technical levels: support - $1.3620, $1.3590; resistance - $1.3650.

Trading recommendations:

1. Buy — 1.3620; SL — 1.3600; TP1 — 1.3650; TP2 — 1.3690.

2. Buy — 1.3590; SL — 1.3570; TP1 — 1.3650; TP2 — 1.3690.

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