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 losing ground

 Tataiana Norkina, FBS analyst

The major currency pair on Forex continued its decline yesterday. The European currency began sharply giving ground since the very morning, after the Tenkan and Kijun lines had formed a dead cross on the four-hour timeframe. We should also note the cloud's lines reversal - Senkou Span A and B that are still supporting the bearish character of the Ichimoku cloud.

Today's trading opened with local lows update as well. The pair tested the 11th figure. A powerful support has been formed here, and the rate can bounce up off it, to the 1.1160 area. Let us also mind the pair's oversoldness.

Technical levels: support – 1.1100; resistance – 1.1160.

Trade recommendations:

1. Sell — 1.1160; SL — 1.1180; TP1 — 1.1100; TP2 — 1.1030.

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