EURUSD: weekly review (13/02)
Tatiana Norkina, analyst FBS
Daily. The currency pair continues to consolidate along the daily Tenkan-sen. An attempt to gain a foothold above it earlier this week was unsuccessful. However, the bulls do not leave hope and strive to restore the course. However, resistance of Kijun line in 1.1480 will be awaiting them. Passing of this level is going to be very difficult. But if the breakdown takes place, corrective recovery can be continued until the 18th figure.
Graph. Daily EUR / USD
H4. At the four-hour time frame the pair entered into the cloud, broke the resistance of Tenkan and Kijun lines. This was preceded by a prolonged consolidation above the 13th figure. However, due to the weakness of bears, bulls managed to establish an upward short-term trend - Tenkan and Kijun lines formed a golden cross. Obviously, in the next days the pair will test the resistance strength at the upper boundary of the cloud, which coincides with the level of 1.1480.
Graph. H4 EUR / USD