04, June 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The euro has shown strong growth amid the positive expectations about "the Greek question" resolution.

The euro is supported by the number of factors. The German and the US government bond yields reduction. The Greece and Germany negative bond yields are also declining amid the positive expectations about the Greece agreement with its creditors. The US April trade balance report pleased investors with strong data.

The resistance level of 1.1150 breakthrough was followed by the euro active growth against the US dollar.

The price is finding the first support at 1.1150, the next one is 1.1050. The price is finding the first resistance at 1.1260, the next one is at 1.1450.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is growing.

Trading recommendations

We believe the growth will be continued now. The first target is the level 1.1450.