Euro strengthening at trades opening
Tatiana Norkina, FBS analyst
The European currency in showing positive movement at trades opening today, once again testing the powerful resistance in the 1.0970/80 area. Testing of the four-hour Ichimoku cloud upper border - 1.1010 - is highly probable.
At the same time, the major trend is still downward as the cloud is in no hurry to change its character, despite the recent growth. In the short term, the indicator lines are moving laterally. Obviously, the pair might consolidate at the current levels during the day. In case of a break through the cloud, we will expect the prices growth into the 11th figure area.
Technical levels: support – 1.0920; resistance – 1.1010.
1. Sell — 1.1000; SL — 1.1020; TP1 — 1.0920; TP2 — 1.0840.
2. Buy — 1.1020; SL — 1.1000; TP1 — 1.1080; TP2 — 1.1130.