EUR/USD (a 4-hour chart)
It should be noted that the euro/dollar is heavily oversold now and there is need in a technical correction. The nearest resistance level is located at around 1.3538 and if it is successfully overcome the level 1.3595 will serve as a next barrier. The data on changes in the volume of production orders for August and September will be published in the USA.
Due to the budget crisis in America, many of the statistics have not been published in time, and now the market will get soon two releases.
The bears dominate on the market. The pair is in a bullish trend. Chinkou Span is above the price, and the price is fixed below the Ichimoku cloud, the sell signal is strong and confirmed. Tenkan-Sen and Kijun-sen are directed down. The Cloud is going down as well.
The downward movement remains until the Kijun-sen is located below the price.
Bollinger Bands show a continuation of a southern movement. The bands are widening, being directed downwards.
The MACD histogram is in a negative area, its volumes are reducing.
The price fell to 1.3491 where it found a support. The price bounced up to 1.3492/1.35. We believe the falling to be continued to 1.3322/42. The growth above 1.3652/62 will show that the bears time is coming to the end, that might be a sign for a growth.