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