10, February 2015

EUR/USD (a 4-hour chart)

 EUR/USD (a 4-hour chart)

General overview

It should be highlighted the Germany trade balance data publication. The euro devaluation with the industrial production moderate increase indicates the data output within the forecasted medians.

Sellers have broken through the support level of 1.1400 for the second time. The pair stopped at the support level of 1.1300 where pair is consolidating.

The support level breakthrough of 1.1400 was followed by the price decrease to the mark of 1.1300.

The price is finding the first support at 1.1300, the next one is at 1.1170. The price is finding the first resistance at 1.1400, the next one is at 1.1520.

There is a non-confirmed and a weak sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement. The downward movement will be until the price is under the Cloud.

The MACD indicator is in a negative territory. The price is consolidating.

Trading recommendations

After the support level of 1.1170 breakthrough down the way to the support level of 1.1040 will be opened.