10, February 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The ECB supported the Euro and it rose versus all its major currencies. European regulator as a result of the two day meeting left the monetary policy unchanged, not having justified the investors’ hopes who waited interest rate lowering.

The pair tries to resume a growth still to do that it needs to return above the resistance 1.3550-1.3660. Should it succeed the pair will continue to recover to 1.3830 and 1.400.

There is a weak northern movement. The buy signal is confirmed and weak. The price is traded above the cloud and below the Chinkou Span. The upward movement will be until the Kijun-Sen is below the price. The Kijun-Sen and Tenkan-Sen are horizontal.

Bollinger Bands is broadening being directed upward.
MACD is in a positive area, the histogram is growing.

Trading recommendations

The euro strengthened versus the dollar. 1.3600 breakthrough means a continued growth to a downward trend line 1.3670. The potential targets are 1.3670 and 1.3700.