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.

FBS: trade recommendation for EUR/USD

by Tatiana Norkina, FBS analyst

The European currency continues becoming cheaper relative to the US dollar. Over the past week the bears were able to reduce the currency pair to 1.3420, but the target level of 1.3400 is still relevant.

Ichimoku indicator. Both timeframes have bearish Ichimoku Clouds. The Dead Crosses and the bearish Clouds will obviously make a depressing impact on market’s sentiment. Therefore, the probability of reaching 1.3400 can increase dramatically after a brief consolidation above support at 1.3420. A small correction to 1.3440/1.3450 is also possible. Note that in this area resistance is quite strong, so bears can be use it to resume the downtrend.

Technical levels: support - 1.3400, 1.3420; resistance - 1.3450.

Trading recommendations:

1. Sell - 1.3440; SL - 1.3560; TP1 - 1.3400.

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