05, January 2015

EUR/USD (a 4-hour chart)

 EUR/USD (a 4-hour chart)

General overview

Deflationary threat still hangs over the euro area, in the light of this threat traders continue to get rid of the euro.

The pair spent the trades in the side consolidation and was trading at the mark of 1.21530. Ten the pair fell to the level of 1.2000 with a gap The medium-term perspectives are on the "bearish" trend side.

The price is finding the first support at 1.2000, the next one is at 1.1950. The price is finding the first resistance at 1.2130, the next one is at 1.2200.

There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement. The downward movement will be until the price is under the Cloud.

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

Trading recommendations

The pair can grow to the resistance level of 1.2130. After breaking 1.2130 the buyers may go to 1.2200.