02, October 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The pair is above 1.35 and remains stable. Experts expect that the euro will strengthen to 1.37 against the backdrop of uncertainty in U.S. spending, if there is a government shutdown. This trip is very probable as no agreement was reached in Washington, DC. Obama said that "shutdown will have a very real economic consequences for many people," during a speech in Congress in order to prevent paralysis. EUR/USD is holding up well, but steady growth above 1.3570 should lead to sustained continued growth in the coming days.

The current buy signal is confirmed and strong as Chinkou span entrenched above the price, and the price is above the Ichimoku cloud. Kijun-Sen and Tenkan-sen lines maintain the upward crossing of the "golden cross". The Kijun-Sen and Tenkan-sen are directed upwards.The market is experiencing "bullish parade of lines". The Cloud is growing.

Bollinger Bands show at a horizontal movement of the market.
MACD indicator is slowing approaching the zero line.

Trading recommendations

Resistance level 1.3550 was tested but not yet broken up. And if it is not broken through today, there will be a reverse roll back to support level 1.3470. Its break will open the way down to 1.3440 - 1.3400.