01, May 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The pair was actively being bought yesterday, having left the Ichimoku cloud, the pair went to the level 1.3150 where it stopped.

The buy signal is confirmed and strong as the price is above the Ichimoku cloud. The first goal of the upward movement is 1.3150, if the price consolidates at this level, the upward movement will continue to 1.3250.

The price is above the Tenkan-Sen and Kijun-Sen. The Tenkan-Sen is above the Kijun-Sen. The Tenkan-Sen and the Kijun-Sen are directed upwards. The Cloud began growing.

Bollinger bands are broadening and directed upwards.
MACD is in the positive zone, above the signal line, indicating that the upward movement.

Trading recommendations

The indicators show an upward movement. If the pair consolidates above the current level 1.3150, the northern movement will be continued towards 1.3250.

A slight lateral movement before the pair starts to grow is possible.

In the case of downward movement the pair will move to the direction of the level 1.3090.