EUR/USD (a 4-hour chart)
The resistance level of 1.1050 testing was followed by the euro active reduction against the US dollar. Despite the reduced volume, sellers were able to break through the support near 1.0670.
The price is finding the first support at 1.0550, the next one is at 1.0420. The price is finding the first resistance at 1.0670, the next one is at 1.0790.
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 and form a “Dead Cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is falling.
We expect the 1.0550 line break that will open the way for the sellers to 1.0420.