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.
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.