EUR/USD: and again battle for 1.1300
Tatiana Norkina, an analyst at FBS
The currency pair was at the 1.1300 support level again at the end of the last week. Bulls could not overcome the resistance of the 15th figure for the second time - the NFP prevented, released on Friday and collapsed the pair rate to the lower boundary of the four-hour Ichimoku cloud.
It should be noted that the bulls have been pretty weak before, in spite of bids are below the upper boundary of the cloud, Tenkan and Kijun lines formed a dead cross midweek. A bearish signal is still valid today - the range is expanding down. Also the cloud is negative.
Oscillators went down, MACD is in negative zone now. Therefore, after fixing of prices under the cloud, we expect a resumption of the downtrend.
Technical levels: support - 1.1300; resistance - 1.1400.
1. Sell - 1.1390; SL - 1.1410; TP1 - 1.1300; TP2 - 1.1260