FBS: trading on EUR/USD
Tatyana Norkina, FBS analyst
EUR/USD found support around 1.3500, though it touched 1.3490 by the end of the past week. These levels have a significant impact to the FX traders and can inspire the bulls for entering the market. That's why the pair rocketed to 1.3550 early in the morning.
Ichimoku. However, there is a strong resistance at 1.3560/1.3560. Recovery to the upper boundary of the Cloud (1.3565/1.3575) may face some problems.
Ichimoku on H1 and H4 charts is clearly bearish. However, one may notice bulls waking up on the hourly chart: Tenkan and Kijun lines formed a golden cross here. If the pair holds above 1.3510/1.3520, bulls will push higher.
Technical levels: support – 1.3510, 1.3520; resistance – 1.3550, 1.3575.
1. Buy — 1.3510/1.3520; SL — 1.3490; TP1 — 1. 3550; TP2 — 1. 3575.
2. Sell — 1.3575; SL — 1.3590; TP1 — 1.3510.