FBS: trade recommendations for EUR/USD
Tatyana Norkina, FBS analyst
Yesterday the pair was trading in the range between $1.2600 and $1.2665. Lower limit of the corridor was formed by Senkou Span B, which kept the currency pair from falling into the Cloud on H1.
Ichimoku indicator. The pair recoiled up from the Senkou Span B and then bulls tried to break strong resistance at $1.2665. However, this level held the pair today – euro has noticeably dipped, punching support of the Kijun-sen. Obviously, if the pair breaks below $1.2620, the trade will once again switch into the negative zone. Otherwise, expect a strengthening of the bullish sentiment.
Technical levels: support - 1.2560, 1.2600, 1.2620; resistance - 1.2665.
1. Buy - 1.2620; SL - 1.2600; TP1 - 1.2665.
2. Sell - 1.2590; SL - 1.2610; TP1 - 1.2560; TP2 - 1.2530.