EUR/USD: growth continues
Tatiana Norkina, FBS analyst
On Monday, the market failed to consolidate above 1.2490 - the bears broke through the Tenkan-Sen and Kijun support levels, decreasing the currency pair rate to the lower border of the Ichimoku cloud, into the 1.2450 area. It was from here that the bulls resumed buying and today they are storming the recent local highs - 1.2440.
It is obvious that we should expect testing of the upper Cloud border levels around 1.2600/20 in the near future.
Oscillators are positive as well. The MACD Histogram is in the positive area and tends to rise. The RSI line is also directed upwards.
Technical levels: support – 1.2530; resistance – 1.2600, 1.2620
1. Buy — 1.2530/40; SL — 1.2510; TP1 — 1.2600; TP2 — 1.2620.