10, March 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The euro grew versus the dollar. The pair got the drive from traditional M. Draghi’s press conference which was held after the Central Bank announcements. Still the main driver of Friday's trading turned out to be the U.S. labor market indicators, the changes for the better can return more than expected euro under selling pressure.

The support stands at 1.3800. The resistance is located at 1.3860, the next is at 1.3925.

There is a strong northern movement. The price is above the Cloud and below the Chinkou Span. The upward movement will be until the Kijun-Sen is above the price. The Tenkan-Sen is crossing the Kijun-Sen upward. Both lines are directed upwards.

Bollinger Bands indicator is broadening showing a high market volatility.
MACD is in a positive area, the histogram is growing.

Trading recommendations

The resistance 1.3800 break was accompanied by high volumes. The consolidation 1.3850 is likely to serve as a signal for the euro growth versus the dollar to 1.3900. The possible growth targets are 1.3950, 1.4000.