Euro is trying to recover

Tatyana Norkina, analytic for company FBS

End of last week, EUR/USD, entry into the cloud zone on the four-hour time frame, had a positive effect. Entrenched over the line Tenkan-sen, the rate of the currency pair started to skyrocket and this morning the bulls are already testing the resistance of the Ichimoku cloud top, in the field of 1.1040 .

The short-term picture remains bullish - the gold cross still operates, lines of Tenkan and Kijun are directed upwards. We also see a narrowing range of cloud top. Therefore, in case of breakdown of the above level, it makes sense to be on the side of the bulls. Meanwhile, line of Chinkou Span today indicates an overbought market. We do not rule out the rebound from the Senkou Span B deep into the clouds.


Technical levels : support - 1.1000 ; Resistance - 1.1040 , 1.1090 .Trading recommendations :1. Buy - 1.1040; SL - 1.1020; TP1 - 1.1090; TP2 - 1.1130.


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