FBS: trade recommendation for EUR/USD
Tatiana Norkina, an analyst at FBS
Currency pair rebounded slightly yesterday, breaking the resistance 1.2520 / 30. However, today's trades show the weakness of the bulls which fail to hold the positions. Though, consolidation above 1.2520 / 30 can give them the opportunity to continue the recovery of the market in the area of 1.2590 / 1.2600, after what the downward trend is likely to continue.
Ichimoku. There is a strong resistance level which is able to stop corrective recovery of the pair precisely in the area of the figure. The mark appears on one-hour (cloud top) and four-hours (Kijun-sen).
Technical levels: Support - 1.2520 / 30; resistance - 1.2590 / 1.2600.
1. Sell - 1.2520 / 30; SL - 1.2550; TP1 - 1.2440; TP2 - 1.2360.
2. Sell - 1.2590 / 1.2600; SL - 1.2620; TP1 - 1.2490; TP2 - 1.2440.