EUR/USD: basing above the cloud
EUR/USD was consolidated in the area of 1.1350 yesterday. For bulls it is difficult to continue the currency pair recovery owing to its overboughtness – Chinkou Span still is in the corresponding area. Nevertheless, the four-hour Ichimoku indicator has been completely rearranged by now. The Tenkan-sen and Kijun-sen lines have created new Golden Cross, and the cloud has changed its nature to an ascending one. Therefore, after possible correction deep into of the Tenkan-Kijun channel, we expect stepping up of new buyers.
Technical levels: support – 1.1350, 1.1310; resistance – 1.1370, 1.1400.
1. Buy — 1.1310; SL — 1.1290; TP1 — 1.1400; TP2 — 1.1415.