EUR/USD (a 4-hour chart)
Euro continued to grow aggressively at the end of last week, not yielding to the weak macroeconomic news on statistics on retail sales in February. All Europe is affected by the wind of change from Japan, where the Central Bank announced the introduction of qualitative and quantitative monetary easing policy.
The pair continues to grow. Buy signal is strong and confirmed.
Chinkou Span and Kijun-Sen are below the price chart, the pair is being traded above the Ichimoku cloud.
In the case of strengthening euro will go up to the level 1.3090.
After positive news from Draghi the pair reached an important resistance level at 1.2950, but it could not overcome it and returned to a consolidation phase.
Bollinger Bands lines are directed to different directions confirming the upward trend and the prospect of a continued growth.
The MACD histogram is above the zero line in an ascending phase, confirming the continuation of a growth.
Experts believe that the producer price index should be on the decline, for this reason the pair can go down to the local minimum and key support level 1.2760.
In case of a continued growth the pair will go to 1.3090.
In case of the southern scenario the price will go to 1.2760. The second goal is the level 1.2680.
Place a stop loss above the Kijun-sen in the case of a southern movement and below the Kijun-sen, in the case of a north one, respectively. As the price moves we move and stop level after it.
When you open positions consider the fundamental analysis and the time economical news is released.