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.

EURUSD hushed before FOMC

 Tatiana Norkina, FBS analyst

EURUSD keeps consolidating in a narrow price range of 1.1020-1.1060, after the past week's collapse. The oversoldness is obvious to prevents bears from increasing pressure, although the four-hour technical picture is fully consistent with the bearish sentiment of the market participants. Indeed, the intensifying dead cross and the down expanding Ichimoku cloud are indicating the long-term sellers presence. More than that, Chinkou Span is gradually exiting the zone of oversoldness.

Today, traders are expecting the FOMC statement on interest rates. It is possible that taking advantage of the increased volatility, the bulls will even try to correct the rate deep into the channel. In any case, trading will be quite risky today.

Technical levels: support – 1.1000; resistance – 1.1060, 1.1090, 1.1150.

Trade recommendations: off the market.

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