EUR/USD: holding above 1.1300
Tatiana Norkina, FBS analyst
The bulls have been holding positions above 1.1300 for three weeks in a row already. The pair's oversoldness is holding back the bears too. Yesterday, the pair consolidated above the figure once again but the downtrend still remains relevant - the four-hour Ichimoku cloud has a bearish direction. Apart from that, dead cross is in action as well.
All Ichimoku lines are moving sideways, as well as the oscillators under consideration.
We do not rule out a possibility of price increase to the cloud's lower border or to the Kijun-Sen level.
Technical levels: support – 1.1300; resistance – 1.1400.
1. Sell — 1.1390; SL — 1.1410; TP1 — 1.1300; TP2 — 1.1260;
2. Sell — 1.1290; SL — 1.1310; TP1 — 1.1210; TP2 — 1.1160.