Euro negative remains
Tatiana Norkina, FBS analyst
Despite the lively recovery of the main currency pair on Forex deep into the four-hour cloud on Monday, the bulls have failed to hold their positions. Yesterday's trading showed the buyers' weakness: the prices returned to the Ichimoku cloud lower border, and today, the bears have begun pressuring, currently trying to break through the Kijun-Sen line support (1.1115). And this is happening while the golden cross is being formed.
It should be noted that the cloud is still bearish. Therefore, if the bears manage to consolidate at the current levels, the pair will be testing the 1.1000 figure in the near future.
Technical levels: support – 1.1000; resistance – 1.1120, 1.1160.
1. Sell — 1.1100/20; SL — 1.1160; TP1 — 1.1000; TP2 — 1.0950.