10, September 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

EUR/USD made a bullish reversal on Friday after U.S. jobs report that caught many by surprise with negative European data. Will it be a short-term rebound in the value or it will become a mid-term trend? The data stream will be focused on Syria and only some of the Eurozone data will come out today. EUR/USD traders are likely to react to the U.S. data, news on Syria and various related markets, including those in other asset classes.

According to the Ichimoku analysis the pair is located in the medium uptrend on the daily chart. Still the pair is falling on the 4 hour time-frame. The EUR/USD broke the Ichimoku cloud down. Tenkan -Sen and Kijun -Sen are directed upwards. Tenkan -sen is below the price. The cloud is directed down.

Bollinger bands are directed up broadening.
The MACD histogram has left a negative zone.

Trading recommendations

We recommend selling at the current price to target 1.3067. If the level is broken, the decline to the next support at 1.3021 will be possible.