FBS: trade recommendation for EUR/USD
By Tatiana Norkina, FBS analyst
After Thursday’s selloff the pair is consolidating just above $1.2920. Friday’s trading showed the weakness of the bulls, and the European currency can remain under pressure in the near future.
Ichimoku indicator. Indeed, on H4 the currency pair fell below important support at $1.2980. Tenkan and Kijun began forming the Dead Cross. Cloud remains bearish.
On the hourly chart there’s the similar situation: this morning the pair formed a dead cross near the lower limit of the bearish Cloud.
Technical levels: support - 1.2920, 1.2830; resistance -1.2960, 1.3030.
1. Sell - 1.2940; SL - 1.2960; TP1 - 1.2830.