09, July 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The euro zone did not please traders with the interesting macroeconomic releases. Late in the evening the United States issued the last Fed meeting report. The last FOMC meeting was followed by the quarterly economic surveys as well as the press conference by D. Yellen and in this regard investors have already got all the key landmarks and fully played them out in June.

The Fed Minutes, published in the evening did not bring any surprises. The regulator believes that the economy has not achieved the conditions for monetary tightening. There were concerns as well regarding the Greek problem.

Sellers updated the last week minimum of 1.0954, still they failed to consolidate below the support level of 1.0955. The level short-term breakthrough was followed by the refund.

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 strong 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 correcting.

Trading recommendations

The potential decrease targets are two levels of support: 1.0925, 1.0790.