09, April 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

Last week was full with important economic data, which added impulse to the pair EUR/USD. The main news – The Bank of Japan announced the launch of a qualitative and quantitative easing measures of monetary policy. ECB regained positive on the market.

The pair continues to grow. The 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. The pair reached an important resistance level 1.30 it is in a consolidation phase now.

In the case of strengthening euro will go up to the level 1.3090.

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.

Trading recommendations

The pair is consolidating profit gained during the last week growth. 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.