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: bears are not in a rush

 Tatiana Norkina, FBS analyst

Despite the generally bearish indicators, the currency pair refrained from updating its lows last week, consolidating below the lower border of the four-hour Ichimoku cloud. Friday's trading ended in the 1.2450 support area, but now the recovery is being hindered by the Tenkan-Sen and Kijun-Sen lines as well. Therefore, consolidation at this level will be considred as a signal for sales. All the more, the cloud began to expand downwards again.

Oscillators are yet neutral, but MACD is in the negative zone, which somewhat increases the bears' chances.

Technical levels: support – 1.2450, 1.2360; resistance – 1.2470, 1.2560.

Trade recommendations:

1. Sell — 1.2420; SL — 1.2440; TP1 — 1.2360; TP2 — 1.2240.

2. Buy — 1.2470; SL — 1.2430; TP1 — 1.2560; TP2 — 1.2600.

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