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: picture turned bearish

  Tatyana Norkina, FBS

Bulls capitulated on Friday: unsuccessful test of the H4 cloud upper border has supported the sellers. As a result, trading moved to the negative territory and lowered the currency exchange rate towards the recent lows - 1.2360. On Monday the price attempted to recover, but the medium-term picture is now bearish. Tenkan-sen and Kijun-sen are forming a dead-cross. Negative Cloud is now once again widening into the negative zone. 

Oscilators are also pointing to further dowside.

We'll keep on looking for selling opportunities. Retest of the Tenkan-sen would become a good moment to go short. 

Technical levels: support – 1.2370/80; resistance – 1.2430, 1.2465.

Trade recommendations:

1. Sell — 1.2440; SL — 1.2460; TP1 — 1.2360; TP2 — 1.2260.

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