EUR/USD: euro creates new minima
During the yesterday's trading session EUR/USD has continued its fall and has created new local minima for the last two months. Bears have lowered the rate of the base Forex currency pair to the area 1.1140 where on a day timeframe the Ichimoku cloud lower boundary has created strong support.
On a four-hour timeframe the descending tendency has remained. The Ichimoku cloud has strongly extended down; the Tenkan-sen and Kijun-sen lines have created a new dead cross.
In the closest time it is possible to expect a rebound of the prices to the Tenkan line, then downtrend can be continued to the mark 1.1080.
Technical levels: support – 1.1140, 1.1080; resistance – 1.1180.
1. Sell — 1.1180; SL — 1.1200; TP1 — 1.1100; TP2 — 1.1080.