Euro under pressure again
Tatiana Norkina, FBS analyst
EURUSD seems to have finally consolidated in the negative area on the four-hour timeframe. Friday's decrease to the lows, after testing of the cloud's lower border levels, triggered a formation of the dead cross by the Tenkan and Kijun lines. The cloud's range has narrowed significantly as well, the cloud itself still being positive. We expect a correctional recovery into the 1.0840 area in the near future, but then the bears are most likely to intensify the pressure.
Technical levels: support – 1.0780; resistance – 1.0840/50.
1. Sell — 1.0840; SL — 1.0860; TP1 — 1.0780; TP2 — 1.0730.