EUR/USD (a 4-hour chart)
Germany submitted the May release, concerning the industrial production. The data is expected within forecasts despite the fact that the production orders growth at the end of March and April indicates the production capacity increase, but the PMI indicator dynamics indicates the minimal growth. The data constituted 0.0%, while it was forecasted 0.1%.
Still the Greek problem solution was the main event of the day. The European leaders meeting results became known during the American session. The Athens will present their proposals on June, 8.
The price has been consolidating around 1.1050 for a long time. The price decreased to 1.0925 at the yesterday’s trades. This level could advance the sellers upwards.
The price is finding the first support at 1.0925, the next one is 1.0790. The price is finding the first resistance at 1.1050, the next one is at 1.1150.
There is a confirmed and a weak sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows a downward movement. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is consoldating.
The downward movement will be continued. The pair may go to 1.0925 soon. After breaking 1.0925 the sellers may go to 1.0790, 1.0670.