Tatyana graduated from Bashkir State University with the major of Applied Mathematics and IT. She used to work as a system analyst in a large IT company. Entered the financial markets in 2008. Her trading system is based on classical technical analysis, Ichimoku indicator and the elements of fundamental analysis. Tatyana is very dedicated to her family and children. In her free time she enjoys rising a bicycle.

Euro - trend change?

 Tatiana Norkina, FBS analyst

EURUSD began the new trading week with a recovery. The rate of the major currency pair on Forex has risen to the 1.1250 resistance area during the Asian session; trading had begun in the 1.1170 area. The pair's oversoldness is obvious to have an impact - the market has fallen remarkably during the previous week. However, there is another powerful resistance slightly above, at the 1.1280 mark, that might as well not let the bulls further upwards.

The overall situation is assessed as negative enough for the pair's buying. Indeed, we are having a strong dead cross combined with a narrowing down cloud. Therefore, it would make sense to expect a rebound from the four-hour cloud lower border today.

Technical levels: support – 1.1170, 1.1100; resistance – 1.1250, 1.1280.

Trading recommendations:

1. Sell — 1.1280; SL — 1.1300; TP1 — 1.1170; TP2 — 1.1100.

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