Euro found support above 1.09
Tatiana Norkina, FBS analyst
The eurodollar started the new trading week with a decline into the four-hour Tenkan and Kijun lines area. The session low was recorded in the 1.0925 area, then the pair returned to the 1.0960 mark, rebounding from the Tenkan-Sen line support. The bulls are likely to test the Ichimoku cloud lower border resistance in the near future. In case of a break through, we will expect the market recovery up to 1.1100. Otherwise, the downward trend is likely to continue.
Technical levels: support – 1.0910, 1.0930; resistance – 1.1000.
1. Sell — 1.1000; SL — 1.1020; TP1 — 1.0930; TP2 — 1.0910.