FBS: trade recommendation for EUR/USD
The currency pair was under pressure on Friday. Once again it tested resistance in the $1.2930 area, but then failed and the downtrend resumed.
Ichimoku indicator. At this level on H1 was the upper limit of the Ichimoku Cloud. The pair’s inability to break higher attracted new sellers. Then EUR/USD fixed below the Cloud and declined to the strong support at $1.2830.
Bearish situation on H4: all lines of the Indicator tuned for a fall.
Obviously, the drop will continue further. Therefore, in case of the break below support at $1.2830 we’ll be looking at the next big level of $1.2790.
Technical levels: support - $1.2830, $1.2790; resistance - $1.2860, $1.2880.
1. Sell - $1.2860; SL - $1.2880; TP1 - $1.2830; TP2 - $1.2790.