EUR/USD: the downtrend’s continuation
The Eurodollar stayed under an Ichimoku cloud by the last trading session. The Bulls tested again the resistance of the lower boundary of the cloud, but on their path was a horizontal Kijun-sen. Therefore the downward trend was continued.
On the four-hour time frame have remained the bearish sentiment. There is still valid the dead cross, the cloud have a descending character. We expect further depreciation of the currency pair.
Technical levels: support - 1.1020; resistance – 1.1070, 1.1100.
1. Sell — 1.1070; SL — 1.10900; TP1 — 1.1000; TP2 — 1.0950.