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: trade recommendation (July 9)

Tatiana Norkina, FBS analyst

The currency pair held above $1.3590 yesterday. This has significantly increased the chances for its recovery. However, the situation remains difficult for the bulls.

Ichimoku indicator.
Indeed, if we consider H4, we see the presence of the Dead Cross formed by Tenkan and Kijun last week. In addition, the Ichimoku Cloud has a very narrow range, which in itself indicates uncertain position of the buyers. At the same time, recovery within the hourly cloud tells hints that the rally is a correction. Slightly higher in the $1.3630/1.3640 area the bulls will meet strong resistance, and this region may cap he pair. Therefore, sell when the oair gets there.

Technical levels: support - 1.3590, 1.3610; resistance - 1.3630, 1.3640.

Trading recommendations:

1. Sell - 1.3630; SL - 1.3650; TP1 - 1.3590; TP1 - 1.3540.

2. Buy - 1.3540; SL - 1.350; TP1 - 1.3600.

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