FBS: trade idea for EUR/USD
Tatiana Norkina, FBS analyst
Yesterday support at $1.3500 failed to hold the bears. Bearish sentiment intensified immediately after the break down of Cloud’s support on the hourly timeframe. However, the pair found support another at the level of 1.3460.
Ichimoku indicator. Negative mood of the Ichimoku intensified after yesterday’s decline on both timeframes. Formation of the dead crosses and the Clouds becoming more bearish undoubtedly prove the superiority of the sellers.
At the same time, pay attention to the oversold market, as indicated by the line Chinkou Span. Therefore, in the near future EUR/USD may consolidate at the current levels with kickbacks to the Kijun-sen on H1. Then the downward trend can be extended to 1.3400.
Technical levels: support - 1.3400, 1.3460; resistance - 1.3490.
1. Sell - 1.3490; SL - 1.3510; TP1 - 1.3400.