Euro restores the power

 Tatiana Norkina, FBS analyst

At the end of the last week, the bulls could manage to convert the game at their side. As we expected, the main obstacle on their way was the Tenkan-sen line, which for a long time they could not penetrate. After consolidation the level was taken, which provoked strong buying of the currency pair, and eventually led to the penetration of even the Ichimoku cloud.

Restoration of the course in the area 1.1000 could be an indicator seriousness of the bulls, but unfortunately, at the moment the pair is overbought, as evidenced Chinkou Span line. Therefore, in the near future we expect a drop of the prices in the area Tenkan and Kijun lines, under the figure of 1.0900.

Technical levels: support - 1.0945, 1.0880; resistance - 1.1000.

Trading recommendations:

1. Sell - 1.0990; SL - 1.1010; TP1 - 1.0950; TP2 - 1.0890.

2. Buy - 1.0890; SL - 1.0870; TP1 - 1.1000; TP2 - 1.1050.

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