EURUSD: weekly review (12/12)
Tatiana Norkina, FBS analyst
Daily. Over the past week the pair has been corrected to the 25th figure. These levels are slightly above the horizontal line Kijun-sen, so the bulls so far failed to break through resistance. By the end of the week rate has been fixed inside the Tenkan-Kijun channel and, obviously, the bulls may try to go on the offensive in the direction of cloud.
Short-term bullish attitude of participants is confirmed by oscillators, which have been growing all week.
Graph. Daily EUR/USD
H4. There was an attempt to output prices in the positive area at the four-hour timeframe, but the upper limit forced to stop buying. As a result, the pair returned to the support line Kijun-Sen and Senkou Span A.
At the same time performance of bulls does not subside. On the contrary, there's another noticeable movement in the direction of the upper limit of the Ichimoku cloud. As a result of the breakdown, this pair can jump to the area of 1.2550.
Graph. H4 EUR/USD