EUR/USD (a 4-hour chart)
Euro grew against the U.S. dollar on Thursday. The reason for this growth was the profitable investments of bonds of Spain.
The price was making a correction towards the Cloud and the Kijun-sen. After breaking the Kijun-sen line the price stopped before the outer boundary of Ichimoku cloud. The pair went right through two levels: 1.3000 and 1.3055. Euro consolidated yesterday at the level 1.3100 (Upper Bollinger Bands).
The sell signal is weak and confirmed. The Chinkou Span and Kijun-sen are below the price, the pair is being traded in the Ichimoku cloud. The pair will continue its falling if it returns under the Kijun-sen (1.3039).
If the price continues to go up and gets into the cloud, it will cancel the downward movement.
Bollinger Bands began to broadening.
MACD is going up.
In general the downward trend continues.
Short term forecast is to go short. The first target is 1.3055. Should the pair overcome this level the price will go to 1.3000.
The correction can move further and turn into an uptrend. If it continues growing the price will go to the level 1.3121, where if consolidates can go to 1.3180.
When opening orders you should consider the fundamental news and the time of its release.