10, April 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The pair continues to strengthen its positions; the euro is in demand among investors.

Chinkou Span and Kijun-Sen are below the price chart, the pair is being traded above the Ichimoku cloud.

In the case of strengthening euro will go up to the level 1.3150.

Bollinger lines are narrowing, we expect a correction.
The MACD histogram continues to grow, but reached its maximum.

Trading recommendations

In the nearest future we expect a small drawdown to the support level 1.2940 with a further growth to the resistance level 1.3120.

In case of a continued growth without a correction the pair will go to 1.3150.

In case of the correction the price will go to 1.3000. The second goal is the level 1.2940.

Place a stop loss above the Kijun-sen in the case of a southern movement and below the Kijun-sen, in the case of a north one, respectively. As the price moves we move and stop level after it.

When you open positions consider the fundamental analysis and the time economical news is released.