EUR/USD (a 4-hour chart)
The EU bank chief did not dare to start a further monetary policy easing to support the economy and to fight the deflation threat. Nevertheless, the euro was under pressure and finished the session down versus the dollar and the other majors. By selling the single currency the investors pushed the statements of the ECB M. Draghi, who discussed the new measures, known as a quantitative easing and even considered a possibility of bank negative rates introduction.
The support is 1.3670. The next one is 1.3600. The resistance is 1.3710.
There is a strong southern movement. The price is below the Cloud and above the Chinkou Span. The downward movement will be until the Kijun-Sen is below the price. The Tenkan-Sen is crossing the Kijun-Sen down forming a “Dead Cross”. That is a good sell signal.
MACD histogram is still in negative zone slightly decreasing.
The EUR/USD continued the downward movement on a high volume.
As long as the price is trading in the downward channel sellers remain strong. The current downward target is 1.3600.