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.
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.