Euro keeps growing
Tatiana Norkina, FBS analyst
The single European currency keeps strengthening against its major rival - the US dollar. This morning, the pair was already testing the 15th figure, having skyrocketed by almost 150 pips from the Friday's close level.
All lines of the four-hour Ichimoku indicator have reacted accordingly, following the prices and reaching upwards. So far, the cloud is bullish and the golden cross is relevant. The bullish sentiment is obvious to remain further on, but it might be qutie risky to buy under such circumstances as the Chinkou Span line will be in the zone of overboughtness soon.
Technical levels: support – 1.1300; resistance – 1.1500.
Trade recommendations: out of market.