10, February 2016

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The Eurozone release pushed the price down - the Sentix Investor Confidence for February has fallen to 6.0 from 9.6 against the forecast which was 7.6. Still a new risk aversion wave limited the euro decline. The dollar sales were also due to the weak USA Labor Market Conditions report where the index fell to 0.4 from 2.9.

The first support lies at 1.1260 and then at 1.1150. The first resistance stands at 1.1350, the next one is at 1.1440

There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows an upward movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is growing.

Trading recommendations

The pair can grow to the resistance level of 1.1350. After breaking 1.1350 the buyers may go to 1.1440.