FBS: trade recommendations on EUR / USD
Tatiana Norkina, an analyst at FBS
Currency pair trade began with the collapse of an important level of 1.2440 after which the bulls are trying to restore lost positions. The market has rebounded to around 1.2490 till now.
Ichimoku. The resistance is formed by Tenkan-sen line in the hourly chart. The rebound could happen any moment to continue the downtrend. However, at level breakout there’s a retest Kijun-sen in the 1.2520 / 30 possible.
Four-hour picture looks more dramatic, as there Chinkou Span is oversold. There’s a high probability of further consolidation in the range of 1.2440-1.2530 in the nearest future.
Technical levels: Support - 1.2440; resistance - 1.2520 / 30, 1.2600.
1. Sell - 1.2520 / 30; SL - 1.2550; TP1 - 1.2440; TP2 - 1.2360.