FBS: trade recommendation for EUR/USD
Tatyana Norkina, FBS analyst
The pair keeps on touching the new lows. New low was fixed at 1.2500 on Friday. Note that the price broke below the major support at 1.2530.
Ichimoku. The Ichimoku indicator is bearish on both timeframes: Clouds are descending with active dead crosses, formed by Tenkan and Kijun.
On the hourly timeframe bulls broke above the Tenkan-sen resistance. We expect to see corrective growth of the pair: Chinkou Span is now in the oversold area.
Technical levels: support – 1.2490; resistance – 1.2560, 1.2600.
Sell — 1.2560; SL — 1.2580; TP1 — 1.2490.