FBS: trade recommendation for EUR/USD
Tatyana Norkina, FBS analyst
Friday's trading ended with a victory of the bears. The currency pair declined for a second day returning to $1.2600.
Ichimoku indicator. Support is formed at this level on both timeframes. Therefore, at the forthcoming session there’s a possibility of a rebound up. The main resistance for the bulls may be at $1.2645. Consolidation under this level may put an end to short-term bullish sentiment. In this case, the depreciation will continue until $ 1.2535.
If the bulls manage to get into the hourly Cloud, then expect an increase to the 27th figure.
Technical levels: support - $1.2535, $1.2600; resistance -$ 1.2645, $1.2700.
1. Buy - $1.2600; SL - $1.2580; TP1 - $1.2645; TP2 - $1.2700.
2. Sell - $1.2590; SL - $1.2610; TP1 - $1.2560; TP2 - $1.2530.