09, October 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The ECB is not too worried about the power of the euro now, although its nominal trade-weighted exchange rate is starting to be overvalued.

In connection with the most important events of the past few weeks, EUR / USD can grow to 1.3710 if the shutdown of the U.S. government continues for a few more days. We can see the vendors above this level especially because speculative accounts are at historically high levels.

Technical perspective of EUR / USD is to get to 1.3682 after breaking through significant resistance 1.3650. The support is at 1.3500 and 1.3460.

The current buy signal is strong and confirmed as the trend line Chinkou Span is above the price and the Ichimoku cloud below the price.

The current buy signal is confirmed and strong as Chinkou span entrenched above the price, and the price is above the Ichimoku cloud. Kijun-Sen and Tenkan-sen lines maintain the upward crossing of the "golden cross". The Kijun-Sen and Tenkan-sen are directed horizontal. The Cloud is growing.

Bollinger bands show an upward movement.
MACD is directed downward, indicating the current correction.

Trading recommendations

The price will come out of the rising channel after breaking through 1.3542. The break of the support 1.3550 will be accompanied by falling prices of the two targets located at levels 1.3500 and 1.3470.