10, March 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

After the labor market release, according to which the unemployment rate fell down to 5.5%, the expectations regarding to the Federal Reserve monetary policy only increased The euro position looks unconvincing - the US and Germany 10-year bond yields increased by 17 basis points to the level of 185.8.

The US labor market positive fundamental data just strengthened the bearish EUR/USD trend. The pair slightly corrected from the last week minimums.

The price is finding the first support at 1.0790, the next one is at 1.0670. The price is finding the first resistance at 1.0925 the next one is at 1.1040.

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

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

Trading recommendations

The upward bounce potential target is 1.0925. If the price falls it will get to 1.0790 and 1.0670.