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.
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.