EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.
EUR/USD: euro corrected to Kijun
Technical levels: support – 1.2150, 1.2250; resistance – 1.2300.
- Sell — 1.2270; SL — 1.2280; TP1 — 1.2180; TP2 — 1.2150
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Kijun-sen; the prices corrected to Kijun-sen after supporting by 1.2200 and downtrend may continue.
EUR/USD is supported around 1.1750. However, the pair has already fallen below the summer support line. We’ll view buy trades only when the pair returns above 1.1800.
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