EUR/USD: euro looking for support on 1.2300

EUR/USD: euro looking for support on 1.2300

Technical levels: support – 1.2300; resistance – 1.2360, 1.2400.

Trade recommendations:

  1. Buy — 1.2330; SL — 1.2310; TP1 — 1.2440; TP2 — 1.2470;

Reason: narrowing bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market had returned into the cloudy area and looking for the support to continue uptrend.

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Bearish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with narrow channel Tenkan-Kijun.

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Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; Dollar is going to positive area, but the market is overbought now.

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