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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: bulls gone weak

 Tatiana Norkina, FBS analyst

Last week, the bulls failed to gain foothold in the positive area on the four-hour timeframe. Consequently, it resulted in the currency pair rate decline into the cloud area and testing of the both upper and lower cloud's borders.

It should be noted that the bulls once again tried to break upwards at the end of the week, but here resistance was exerted by the Tenkan and Kijun lines, into the 1.0925 area.

The situation looks uncertain so far - all indicator lines are directed horizontally. Obviously, the outcome of this battle will depend on the 1.0925 and 1.0860 leves.

Technical levels: support – 1.0860, 1.0820; resistance – 1.0925, 1.0960.

Trade recommendations:

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

2. Sell — 1.0860; SL — 1.0900; TP1 — 1.0800; TP2 — 1.0740.

EUR
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