FBS: trade recommendation for EUR/USD
By Tatyana Norkina, FBS analyst
Last Friday, the bears broke through an important support level of $1.3160. The level of $1.3140 failed as well. Thus, the downward trend has continued again. The European currency looked weaker against the dollar during today's Asian session. The market renewed low at 1.3118.
Ichimoku indicator. The indicator is bearish on both timeframes. And if on H1 Tenkan and Kijun formed a Dead Cross, on H4 both lines are declining simultaneously, indicating the strength of the downtrend. Therefore, in the near future, it makes sense to expect a test of the next important level – $1.3080.
Technical levels: support - $1.3080, $1.3130; resistance - $1.3140, $1.3160.
1. Sell - $1.3140; SL - $1.3160; $TP1 - 1.3080.