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: downtrend in force

 Tatiana Norkina, FBS analyst 

Yesterday the bulls managed to win back a half-week fall and restore the currency pair to the 14th figure. EUR/USD oversold has contributed to correctional growth of the pair, which is confirmed bythe four-line Chinkou Span Ichimoku indicator, as well as by turned up oscillators.

However, further promotion of the bulls is questioned - the line Kijun-sen formed a strong resistance at 1.1350-1.1380. Precisely from these levels we can see the resumption of the downtrend. Note that the cloud still has a bearish tone.

If this resistance is passed, then we will expect the growth to the lower boundary of the cloud.

Technical levels: support - 1.1260; resistance - 1.1370, 1.1400.

Trading recommendations:

1. Sell - 1.1370; SL - 1.1400; TP1 - 1.1260; TP2 - 1.1190.

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