EUR/USD: downtrend is still relevant
Tatiana Norkina, FBS analyst
In recent days, the bears managed to move trades under the four-hour Ichimoku line, while maintaining relevance of both dead cross and descending nature of the cloud. But this morning active buyers who returned prices to Tenkan, seemed more active.
It should be noted that the oscillators are currently also growing.
Therefore, most likely, the main task of the bears in the near future is to keep prices under the figure of 1.1600. In case of success of this campaign, very soon we may see the new lows. Otherwise the outset will be tightened to test the level of the bottom of the cloud.
Technical levels: support - 1.1540; resistance - 1.1580, 1.1600.
1. Sell - 1.1570 / 80; SL - 1.1600; TP1 - 1.1500; TP2 - 1.1440.