EUR/USD (a 4-hour chart)
The euro fell amid the US dollar in the run-up to the US government Friday's employment publication. Investors expect the data to be strong that may lead to move the Federal Reserve interest rates hike forecasts at an earlier date.
The euro two-week rise against the US dollar has stopped and we can observe the support of 1.0925 breakthrough. Then the pair formed a consolidation and tested this level which is the resistance now.
The price is finding the first support at 1.0790, the next one is 1.0670. The price is finding the first resistance at 1.0925, the next one is at 1.1050.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows a downward movement and form a “Dead Cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is consolidating.
The approach to the level of 1.0925 may lead to a price rebound down. The potential rebound target is e the support level of 1.0790.