FBS - Analytics

FBS

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EUR/USD: Euro continues consolidation

Eurodollar stays in the neutral zone. Yesterday's trading were between Tenkan-Sen, Kijun-Sen and the Ichimoku cloud. Despite the golden cross formed by Tenkan and Kijun lines, it’s hard to recover the positions. The main reason is that the bearish trend was confirmed by the Ichimoku cloud.

If Kijun-sen doesn't support the market today, the exchange rate will continue decreasing.

Technical levels: support - 1.1050; resistance - 1.1150.

Trade recommendations:

1. Sell — 1.1050; SL — 1.1070; TP1 — 1.1000; TP2 — 1.0950.



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