Tatyana graduated from Bashkir State University with the major of Applied Mathematics and IT. She used to work as a system analyst in a large IT company. Entered the financial markets in 2008. Her trading system is based on classical technical analysis, Ichimoku indicator and the elements of fundamental analysis. Tatyana is very dedicated to her family and children. In her free time she enjoys rising a bicycle.

EUR/USD: bulls are trying to push higher

  Tatyana Norkina, FBS

Buyers managed to push the price higher towards the 1.2460 mark by the end of the week. We should note that at these levels Kijun-sen formed a strong level. Break higher could open the way for a further recovery towards the lower border of the Ichimoku Cloud (1.2520). 

The price is now trying to fix here. All the Ichimoku lines are lying sideways, confirming that the current recovery is corrective. 

Oscillators point to a decisive growth. Price fix in the 1.2440-1.2460 range could become a signal for new buying. In the other case we would expect the downside to resume. 

Technical levels: support – 1.2440/60; resistance – 1.2520.

Trade recommendations:

1. Buy — 1.2460; SL — 1.2430; TP1 — 1.2520; TP2 — 1.2560.

2. Sell — 1.2430; SL — 1.2460; TP1 — 1.2380.

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