Euro experiences a correction inside the channel

 Tatiana Norkina, FBS analyst

The new trading week started with a slight decrease ofEurodollar, which experiences a correction after the recent explosive growth rate. This morning’s trading was attended by a four-hour Tenkan-sen, in the region of 1.1130, inside the Tenkan-Kijun channel. There is also a possibility of the further weakening to the Kijun line support at 1.1070.

However, the main trend remains bullish due to the Ichimoku Cloud’s positivity. In addition, the gold cross of Tenkan and Kijun is active.

Technical levels: support – 1.1070; resistance – 1.1160.

Trading recommendations:
1. Buy – 1.1070; SL – 1.1050; TP1 – 1.1160; TP2 – 1.1220.

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