EUR/USD: trading on the lows
Tatiana Norkina, FBS analyst
The currency pair has formed a corridor with a lower limit of 1.2170 for the past few days and it yet serves as support. According to the results of this consolidation the oscillators turned up. However, consolidation under the Tenkan-sen line enables to assume that a downward trend will continue in the nearest future until the next important level of 1.2030.
It should be noticed that the Ichimoku cloud extends down strengthening the long-term bearish perspectives of the pair. An active dead cross is formed by Tenkan and Kijun lines.
Technical levels: support - 1.2170 / 80; resistance - 1.2220 / 30.
1. Sell - 1.2200; SL - 1.2220; TP1 - 1.2110; TP2 - 1.2030.