Euro getting weaker
Tatiana Norkina, FBS analyst
The single European currency keeps losing strength against the American. During yesterday's trading session, the EUR/USD currency pair rate slid into the area of yet another figure - 1.0900, where it found support for now.
The Ichimoku indicator on the four-hour timeframe is strictly bearish now: the cloud is expanding more and more downwards, and the Tenkan and Kijun lines formed a new dead cross yesterday, which proves the bearish sentiment presence on the market.
This morning, trades are carried out with a moderate bullish interest due to the pair's oversoldness. Further decline, after testing of the Tenkan-sen line levels, is obvious to take place.
Technical levels: support – 1.0900, 1.0850; resistance – 1.0950.
1. Sell — 1.0950; SL — 1.0970; TP1 — 1.0900; TP2 — 1.0850.