EUR/USD (a 4-hour chart)
The American dollar has been actively strengthening against the euro. Obviously, the pessimism caused by the United States employment has gone and the market returned again under the main influence pressure factors - the ECB information about the measures taken to soften the monetary policy. There wasn’t a lot of the euro area economy news. Still the yesterday’s releases were able to support the euro for some time.
The buyers managed to update the last week minimum at the level of 1.2920 and to fix below the level of 1.2930.
The price is finding the first support at 1.2850, the next one is at 1.2790. The price is finding the first resistance at 1.2930, the next one is at 1.3000.
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 horizontal 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.
The potential growth target is the resistance level of 1.3000. The approach to this line may lead to a price rebound down. The potential decrease target is the support level of 1.2790.