03, March 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The European currency has strengthened versus the dollar on Friday’s trading. The euro-zone’s news b background is not favorable for the euro. The European currency was supported by the data from the United States.

The pair stopped its growth at 1.3800.

There is a strong northern movement. The price is above the Cloud and below the Chinkou Span. The upward movement will be until the Kijun-Sen is above the price. The Tenkan-Sen and Kijun-Sen are directed upwards.

Bollinger Bands is directed upwards. The bands are widening.
MACD is in a positive area, the histogram is growing.

Trading recommendations

The growth volumes are descending. Consequently, the corrective growth will be temporarily stopped near the upper boundary of the channel 1.3830. The rebound down to the level 1.3760-1.3720 is possible.