EUR/USD (a 4-hour chart)
The moderately positive background was formed for the single European currency. The Germany and the US government bond yields are decreasing which reduces the investments’ attractiveness into the US assets. In addition, we expected the ISM service sector business climate negative release amid the private sector employment weak data which also weakens the dollar.
The price is finding the first support at 1.1150, the next one is 1.1050. The price is finding the first resistance at 1.1260, the next one is at 1.1325.
There is a confirmed sell signal. The price is below the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen are horizontal. The price will be falling if it remains under the Cloud.
The MACD indicator is in a neutral territory. The price is decreasing.
We believe the price is returned to the southern movement. Shall the price go below the support 1.1150 it will decrease to the level 1.1050.