EUR/USD: center of attention is 1.1300
Tatiana Norkina, FBS analyst
By the end of the previous week, the currency pair had crept tightly to the four-hour Ichimoku cloud lower border during consolidation. Further struggle between the bulls and the bears is obvious to carry on around the 1.1300 figure. Break through the Senkou Span A resistance may mean corrective recovery and further correction deep into the cloud towards its upper border. If the level stands, we should expect the downtrend resumption.
Oscillators show multidirectional movement which is quite understandable, against the background of consolidation. Thus, MACD keeps growing, while RSI is gradually turning downwards.
Technical levels: support – 1.1300; resistance – 1.1320.
1. Sell — 1.1290; SL — 1.1320; TP1 — 1.1200; TP2 — 1.1150.
2. Buy — 1.1330; SL — 1.1310; TP1 — 1.1400; TP2 — 1.1430.