Euro shows weakness
Tatiana Norkina, FBS analyst
Today the main Forex currency pair is trying to stay in the positive area of the four-hour timeframe. Growth, which was noted on Monday, has not been supported yet by long-term traders, despite the change in the underlying trend upward. Also pay attention to the continued relevance of the golden cross formed by Tenkan and Kijun lines. But despite this, the bulls can not speed up the recovery process due to overbought, which is confirmed by finding Chinkou span line in the corresponding zone.
Obviously, in case of breakdown of support in the 1.1030/40 area, the market can reach panic and then the rate of the currency pair will fall to the bottom of Ichimoku cloud. Otherwise, we will expect the growth of the pair, at least to the level of 1.1175.
Technical levels: Support - 1.1030 / 40; Resistance - 1.1075, 1.1130, 1.1175.
1. Buy - 1.1040; SL - 1.1020; TP1 - 1.1130; TP2 - 1.1175.