FBS - Analytics

    FBS

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    EUR/USD: the Bears do not hurry

    Against yesterday’s correctional rising of Eurodollar the market kept its bearish mood. The pair returned to the lines of Tenkan-Sen and Kijun-Sen, but they formed a dead cross. In addition the cloud expanding now in the descending direction. Therefore the breakdown of support 1.1070 will have a negative effects to market sentiment.

    Technical levels: support - 1.1070; resistance - 1.1100.

    Trade recommendations:

    1. Sell — 1.1090; SL — 1.1110; TP1 — 1.1000; TP2 — 1.0950.


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