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