07, October 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

EUR/USD continues to grow, setting new highs for the third day in a row - and it is getting closer to the goal of 1.3682. It is obvious that the main factor determining the movement of EUR / USD is the relative strength or weakness of the dollar, which will be determined by short-term news related to achievements in Washington.

Technical perspective of EUR / USD is to get to 1.3682 today after breaking through significant resistance 1.3650. The support is at 1.3500 and 1.3460.

The current buy signal is strong and confirmed as the trend line Chinkou Span is above the price and the Ichimoku cloud below the price.

The current buy signal is confirmed and strong as Chinkou span entrenched above the price, and the price is above the Ichimoku cloud. Kijun-Sen and Tenkan-sen lines maintain the upward crossing of the "golden cross". The Kijun-Sen and Tenkan-sen are directed upwards.The market is experiencing "bullish parade of lines". The Cloud is growing.

Bollinger bands show an upward movement, the bands widen and face up.
MACD is turned up indicating the current uptrend.

Trading recommendations

To continue growth the price needs to break and consolidate above 1.3630 and 1.3650. In this case the way to the level of 1.3700 - 1.3710 will be opened.