EUR/USD (a 4-hour chart)
German data, which showed growth in industrial orders, supported the euro.
Although the euro zone economy is sluggish, but not as bad as it seems.
In April, the number of private sector rose by 176,000 which provides the pair with raising.
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 strong as long as the price is below the Kijun-Sen.
Bollinger bands form ф side channel, its lines are directed down
MACD is at the zero level.
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.