The Eurodollar has corrected to the Tenkan-Sen and Kijun-sen on four-hour timeframe during yesterday’s session. Horizontal lines held off that rising in the area of 1.1060. During this time there was a cancellation of a dead cross, but preserved the basic downward trend.
The Bulls punched the resistance of Tenkan and Kijun lines this morning. Therefore the rising is possible to lower bound’s levels of the Ichimoku cloud. After that we expect the resumption of downtrend.
Technical levels: support – 1.1060; resistance – 1.1100.
Trade recommendations:
1. Sell — 1.1100; SL — 1.1120; TP1 — 1.1000; TP2 — 1.0950.
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