Euro updating lows
Tatiana Norkina, FBS analyst
During yesterday's trading, the main currency pair on Forex has updated lows. A new extremum for the past five weeks has been recorded at the 1.0910. level. Thus, the downtrend is gaining momentum.
The Ichimoku indicator on the four-hour timeframe is fully bearish. Thus, the Ichimoku cloud has significantly expanded downwards, clearly indicating continuation of the downtrend in the long run. The Tenkan and Kijun lines have also formed a new dead cross, supporting the short-termers.
At the same time, the pair rolled back to Kijun-sen yesterday, into the 1.1000 area, due to its oversoldness. But powerful resistance has stopped the bulls. Therefore, the current levels may be a starting point for new sales.
Technical levels: support – 1.0900; сопротивление – 1.1000.
1. Sell — 1.1000; SL — 1.1020; TP1 — 1.0900; TP2 — 1.0850.