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.
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.