EUR/USD (a 4-hour chart)
In the second half of Monday, the pair fell below support line 1.3090 after M.Dragi's comments that the Central Bank monitors the incoming data and is ready to intervene if it is necessary.
The price continues working out the "dead cross", but the movement is very unstable, and the signal is weak.
The current sell signal is not confirmed and weak, as Chinkou Span is above the price, and the price is in the Ichimoku cloud.
The pair is targeted to the lower boundary of the Ichimoku cloud, but we should consider the short orders only when the price consolidates below the Ichimoku cloud.
If the price consolidates below this level the downward movement can continue to the first support level 1.3000. The downward movement will be actual as long as the price is below the Kijun-Sen.
Chinkou Span is above the price that does not proof the current sell signal and indicates bullish sentiment of traders.
Bollinger bands show the possible start of a downward movement, the bands widen and can turn down, so now it is recommended to consider shorts orders.
MACD is turned up, indicating the current correction movement. Should the indicator turn down that can signal the resumption of the downward movement.
The daily chart stands for the growth, but if to look at the current graphical analysis and indicators we can see that the pair movement is slowing.
We do not recommend trading right now. We need to wait till the price breaks the Cloud down or rebounds from the Cloud top.