Euro showing weakness
Tatiana Norkina, FBS analyst
During yesterday's session, EUR/USD was trading within the neutral zone between the four-hour Ichimoku cloud and the Tenkan-sen and Kijun-sen lines that had formed a powerful support in the 1.1160/70 area. The latter, at the same time, have crossed and formed a golden cross that might support the short-term bullish sentiment. However, the hanging over bearish cloud, though with an unusual movement of the upper border, can make the pair go into a long-term downtrend again. Therefore, special attention will be drawn to the 1.1160 level today. In case of a break down, we might see the last week's lows updated. If Kijun-Sen retains the prices though, we will not rule out a leap of the rate upwards by a whole figure.
Technical levels: support – 1.1160, 1.1100; resistance – 1.1210, 1.1280.
1. Sell — 1.1160; SL — 1.1180; TP1 — 1.1060; TP2 — 1.1030;
2. Buy — 1.1180; SL — 1.1160; TP1 — 1.1120; TP2 — 1.1280.