FBS: trade recommendation for EUR/USD
Tatyana Norkina, FBS analyst
The currency pair is trying to recover some ground. Fix above 1.2920 let the new buyers in, opening the way for a test of 1.3000. However, the bearish pressure still remains high: by the end of the day prices slipped to 1.2960.
Ichimoku. The 1.2980-1.3000 is likely to hold the bullish recovery. On the H1 chart the price broke below the Kijun line support. We await for a retest of the 1.2940 support.
On the H4 prices are supported by the Tenkan and Kijun lines. Break and fix below could provoke new sales and a resumption of a major descending trend.
Technical levels: support – 1.2920, 1.2940/1.2945; resistance –1.2960, 1.2980, 1.3000, 1.3030.
1. Sell — 1.2960; SL — 1.2980; TP1 — 1.2890; TP2 — 1.2830.