04, January 2016

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The German government bonds rose relative to their US and the UK counterparts which increases the investments attractiveness in European assets and thereby supports the demand for euro. Nevertheless, the euro slightly fell.

The first support lies at 1.0800 and then at 1.0730. The first resistance stands at 1.0925, the next one is at 1.1050.

The price action is in the Ichimoku Cloud. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement.

The MACD indicator is in a neutral territory. The price is decreasing.

Trading recommendations

When the price consolidates below the level of 1.0925 it may go to the level 1.0800.