EUR/USD: euro will test daily resistance

EUR/USD: euro will test daily resistance

Technical levels: support – 1.0740, 1.0700; resistance – 1.0800/20.

Trade recommendations:

1. Sell — 1.0800; SL — 1.0820; TP1 — 1.0740; TP2 – 1.0700.

Reason: bullish Ichimoku Cloud, but the lines Senkou Span A and B are horizontal; a weak golden cross of horizontal Tenkan-sen and Kijun-sen; the prices are under a daily resistance; the market is overbought.

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The main intraday target is the next resistance at 113.53, which could be a starting point for a bearish correction...

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EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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