FBS: trade recommendation for EUR/USD
By Tatyana Norkina, FBS analyst
The strengthening of the US dollar after EUR/USD broke support at $1.3620, has ruined the prospects for the bulls. The situation changed in favor of the bears. Yesterday the pair formed low at 1.3560.
Ichimoku indicator. Indeed, the indicator Ichimoku became bearish on H4 as well as on an H1. The Cloud started descending, and Tenkan and Kijun formed the Dead Crosses. Note that the targets of the decline haven’t been reached yet. Therefore, in the near future we should expect EUR/USD to test 1.3540-1.3550.
Technical levels: support - 1.3540; resistance - 1.3575, 1.3590.
1. Sell — 1.3575; SL — 1.3590; TP1 — 1.3540.
2. Buy — 1.3540; SL — 1.3520; TP1 — 1.3590.