EURUSD is still in Ichimoku cloud

Tatiana Norkina, FBS analyst

The most used Forex currency is still in decline. At the moment, it goes as a correctional move but meanwhile is inside the Ichimoku cloud. Today forecast of Tenkan line resistance that turned to be wrong could interrupt the plans of short-term bulls since lowering down to the bottom line is rather expected. Senkou Span B formed resistance in the range of 1.1080. Therefore, the future trading will depend on this very range. In case of rush, we shall expect the bears to perk up on the market.

Technical levels: support 1.1080, resistance 1.1170

Trade recommendations: 1. Sell — 1.1150; SL — 1.1170; TP1 — 1.1080; TP2 — 1.1050.



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