Tatyana graduated from Bashkir State University with the major of Applied Mathematics and IT. She used to work as a system analyst in a large IT company. Entered the financial markets in 2008. Her trading system is based on classical technical analysis, Ichimoku indicator and the elements of fundamental analysis. Tatyana is very dedicated to her family and children. In her free time she enjoys rising a bicycle.

EUR/USD: consolidation inside cloud

 Tatiana Norkina, FBS analyst

The currency pair broke into the cloud zone on the four-hour timeframe last week. After testing the cloud's lower border, the bears refused to continue the main trend, which made the market flat.

The Tenkan and Kijun lines have formed a dead cross, but so far, the prices are holding above its level. Therefore, we do not rule out the possibility of another Senkou Span B levels testing.

If there is no consolidation above the 1.0800 figure, we should expect the rate depreciation below 1.0700.

Technical levels: support – 1.0800, 1.0750; resistance – 1.0850, 1.0930.

Trade recommendations:

1. Sell — 1.0790; SL — 1.0810; TP1 — 1.0750; TP2 — 1.0690;

2. Buy — 1.0830; SL — 1.0810; TP1 — 1.0930; TP2 — 1.0970.

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