FBS: trade signals for EUR/USD
Tatyana Norkina, FBS
The currency pair consolidates within the 1.3590-1.3610 horizontal channel after a drop on last Thursday. Short-term bullish attempts to recover didn't give any results. The pair has finally stayed in the negative zone.
Ichimoku. On the H4 chart Tenkan and Kijun formed a dead cross, clearly reflecting the short-term berish sentiment. The Cloud is narrow, what confirms the bullish weakness. What's more, Chinkou Span lies below the price.
The picture on the hourly chart is also seen as negative: descending Ichimoku and a dead cross formed on Friday. There are a lot of strong resistance levels above the price, beginning with 1.3610.
Break and fix above 1.3610-1.3620 could become a good entry point for buyers; sell on a break and fix below 1.3950.
Technical levels: support – 1.3540, 1.3590; resistance – 1.3610, 1.3620, 1.3630, 1.3640.
1. Sell — 1.3610; SL — 1.3620; TP1 — 1.3540.
2. Buy — 1.3620; SL — 1.3600; TP1 — 1.3660
3. Buy — 1.3540; SL — 1.3500; TP1 — 1.3600.