06, September 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

EUR/USD falling was limited to a cluster of 100 day sliding average and 200-day sliding average about 1.31345/35, respectively. It is a very important support level as it also coincides with the top of Ishimoka Cloud on a day time-frame. There is the end of technically ascending trend below of it.

The pigeon rhetoric of Draghi can be sufficient for a break of this important level and can open the way for return to 1.30. 1.3045 - 100-week sliding average where it can act as a support if the market aims on 1.30.

According to the Ichimoku the pair is located in the medium uptrend on the daily chart. The pair is falling. The EUR/USD broke the Ichimoku cloud down. Tenkan -Sen and Kijun -Sen are directed downwards. Tenkan -sen is below the price. The cloud is going down.

Bollinger bands are directed down broadening.
The MACD histogram is located in a negative zone.

Trading recommendations

The pair is constrained by a strong level of support 1.3160 which in case of a break down can serve as a good signal for sales. The following marks are potential targets: 1.3120 1.3075 1.3025 1.3000