FBS - Analytics


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    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.

    Trading recommendations:

    1. Buy — 1.1310; SL — 1.1290; TP1 — 1.1400; TP2 — 1.1415.

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