10, June 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

As the ECB is fully aware of its important role in the regulation of the monetary policy in the region the rates will remain unchanged.

There is no threat of inflation, besides the ECB also lowered its forecasts on consumer price inflation for 2013. This forecast was reduced to 1.4%, previously it was 1.6%. This move gives more room to the central financial regulator maneuver.

The price is above the Chinkou-span, we have a strong and confirmed buy signal. EUR/USD is being traded above the Ichimoku cloud. The pair is above the Kijun and Tenkan, the Ichimoku cloud is directed upward.

Tenkan-sen is directed upwards, Kijun-Sen is horizontal.

Bollinger Bands are broadening
MACD is now in positive area, the indicator is growing. MACD indicates that pair is overbought.

Trading recommendations

The pair reached a maximum where it was on February 25. ECB President Draghi's speech supported euro.

We believe that the upward movement will be continued to 1.3300, we recommend
buying from 1.3186.