FBS: trade recomendation for EUR/USD
Tatyana Norkina, FBS analyst
The US dollar remains strong versus the other major currencies. On Monday the pair gaped down below the 1.3200 mark, forming a new minimum below 1.3180.
Ichimoku. The H4 indicator turned negative: all the lines are now headed to the downside. Descending Cloud and the active dead cross confirm that the sellers dominate the market. On the hourly chart the price dipped below the Cloud. Tenkan and Kijun formed a dead cross on Friday. We expect the bearish trend to continue in the nearest future.
Technical levels:– 1.3190, 1.3160; resistance – 1.3220, 1.3240.
1. Sell — 1.3220; SL — 1.3240; TP1 — 1.3190; TP2 — 1.3160.
2. Buy — 1.3160; SL — 1.3140; TP1 — 1.3220; TP2 — 1.3240.