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: battler around upper border

 Tatiana Norkina, FBS analyst

The bulls have been trying to break into the positive area on the four-hour timeframes for two days already. However, the level formed by the Ichimoku cloud upper border provides strong resistance around 1.0950. Therefore, the currency pair rate was forced to revert to the Tenkan-sen line support, into the 1.0900 figure area.

The short-term situation is more that positive now - the golden cross formed by the Tenkan and Kijun lines is active. At the same time, the cloud is reluctant to change its character to bullish.

Thus, the pair's fate will depend on whether the bulls manage to overcome the Senkou Span B levels or not. We do not rule out a possibility of the prices return to the cloud's lower border.

Technical levels: support – 1.0900, 1.0820; resistance – 1.0930, 1.0960.

Trade recommendations:

1. Buy — 1.0940; SL — 1.0920; TP1 — 1.1025; TP2 — 1.1110.

2. Sell — 1.0880; SL — 1.0900; TP1 — 1.0820; TP2 — 1.0740.

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