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: bulls are gaining strength

 Tatiana Norkina, FBS analyst

Recovery of the currency pair at the end of the previous week led to a break through the upper border of the four-hour Ichimoku cloud in the 1.2420 area. We should note rigth away that it may be a powerful signal for the bulls, as Senkou Span B has been a fairly strong resistance.

At the same time, the cloud is narrowing upwards and may soon change the nature to bullish. That is, the main trend may change direction to an upward one. The golden cross is in action.

Oscillators are indicating presence of a bullish sentiment in the market as well.

Technical levels: support – 1.2420; resistance – 1.2480, 1.2560.

Trade recommendations:

1. Buy — 1.2420/30; SL — 1.2400; TP1 — 1.2480; TP2 — 1.2560.

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