EUR/USD: focus on declining
Tatiana Norkina, an analyst at FBS
The positive start of the week was ended by the complete failure of bulls to attack on 1.2500 figure. The testing of this level took place within a four-hour Ichimoku cloud at the current dead cross. It should be noted that the cross remains its relevant today, as the pair failed to hold above the lines of Tenkan and Kijun. Yesterday's breakdown of cloud suggests that the downward trend will continue. Ichimoku Cloud support and bearish sentiment extends down.
Also oscillators declined indicating the acceleration of the trend.
Technical levels: support - 1.2360; resistance - 1.2420, 1.2500.
1. Sell - 1.2410; SL - 1.2430; TP1 - 1.2360; TP2 - 1.2240.