EURUSD: weekly review (20/02)
Tatiana Norkina, FBS analyst
Daily. Currency pair failed to overcome the resistance of the daily Tenkan and Kijun lines which were situated in the 14th figure area during the past week. The bears could not continue the downward trend, due to oversold at that time. However, at the end of last week, the bulls began to leave the market opening new opportunities for sellers. It is possible that by the end of the month we will see the pair near January lows.
Graph. Daily EUR/USD
H4. At the four-hour time frame the currency pair traded mostly within the Ichimoku cloud, confirming sideways trend. But closer to the end of the week the bears still tipped the scales in their favor and took the pair into the negative plane. Breakdown of the 13th figure will serve as the signal for new sales.
Graph H4 EUR/USD