05, June 2013

EUR/USD (a 4-hour chart)

General overview

According to the latest report of the IMM: "EUR net shorts continue to increase but with a much slower rate than in the past two weeks. EUR short orders are still very far from the levels where they were before the Draghi' speech. As for the dollar, the experts say that net long positions have remained virtually unchanged. USD long positions growth was the result of EUR short orders growing, so that EUR/USD will continue to be traded at 1.30.

The price is above the Chinkou-span, we have a strong and confirmed buy signal. EURUSD is being traded above the Ichimoku cloud. The pair is above the Kijun and Tenkan, the Ichimoku cloud is directed upward.

Kijun-Sen and Tenkan-sen follow the price up, both lines are vertical.

Bollinger bands are broadening having formed an upward channel.
MACD is now in positive area , the indicator is growing.

Trading recommendations

We believe that the euro-dollar will return to 1.3087.

This mark is the pinnacle where the "bearish" trend will be neutralized. In addition, it will open the way for the return to the May high levels 1.3225- 1.3242.