EUR/USD (a 4-hour chart)
After Mario Draghi's comments the pressure on the euro in the short-term should increase.
On Friday, May 3, the euro/dollar showed a negative trend. A short-term growth impulse after the announcement of the ECB's decision to low the interest rate to 0.5% was replaced by a wave of sales after the ECB President Mario Draghi's press conference. The publication of the applications for unemployment benefits and the U.S. trade balance, which were better than expected, furthered the euro falling and the dollar strengthening.
The signal to buy weakened as Chinkou Span is above the price, the pair is being traded above the Ichimoku cloud. If the price breaks through the Cloud down, it will cancel the buy signal.
The price is between the Tenkan-Sen and Kijun-Sen. The Tenkan-Sen is above the Kijun-Sen. Tenkan-Sen is directed downward, Kijun-Sen is directed aside. The Cloud stopped in the growth.
Bollinger Bands have formed a lateral channel.
MACD is in a zero line zone.
We recommend to stay away from trading until the market calms down after the decision of the Central Bank. Now, the price may go up as well as down.
The downward movement is directed toward support levels 1.2940 and 1.300.
Should the price return to the northern movement the pair will rise to 1.3150.
Stop Loss we place below the Kijun-Sen and 1.3085. After getting profit of 50-60 points stop loss can be moved into a break-even.