FBS: trade recommendations on EUR / USD
Tatiana Norkina, an analyst at FBS
Currency pair made a slight attempt to restore but bulls failed to rise above 1.2590 today. The bears which currently take the pair down, beyond the Bollinger Bands, took part in the game just after the test at this level. This means that the downtrend is gaining strength again.
However, we must pay attention to the oscillators which began to show divergence with the price chart altogether. Thus, one can not exclude turning of the market to a deeper correction phase immediately after updating today's low and testing an important level of 1.2520.
Technical levels: Support - 1.2520; resistance - 1.2590.
1. Buy - 1.2520; SL - 1.2500; TP1 - 1.2590; TP2 - 1.2620.