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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: bearish trend doesn't weaken

Tatiana Norkina, FBS analyst

Last week we saw new lows of currency pair in the 1.1750, after that level the market has adjusted to the figure above - 1.1850. The correction has been stopped by resistance of horizontal line Kijun-sen, which constrains the bulls today as well.

Oscillators dutifully went up after the price. The MACD histogram is close to zero, but the RSI was back in the neutral zone after removing oversold.

Meanwhile, Ichimoku does not change its commitment to the bearish trend. Despite the sideways movement of lines Ichimoku cloud is descending character and Tenkan and Kijun still did not abolished the dead cross.

Therefore, even if breakdown occurs resistance Kijun-sen, the growth will last only till the inferior border of the Ichimoku cloud. This depreciation is likely to be continued.

Technical levels: support - 1.1800; resistance - 1.1850, 1.1900.

Trading recommendations:

1. Sell - 1.1850; SL - 1.1870; TP1 - 1.1800; TP2 - 1.1775.

EUR
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