10, December 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The U.S. dollar significantly rose versus the yen on Friday, fell against the euro, Australian and New Zealand dollar and stayed almost unchanged against the pound and Canadian dollar; it happened after the release of release of the U.S. Non-Farm Payrolls and Consumer Confidence, which generally exceeded the expectations.

EUR/USD keeps growing. Chinkou Span is below the price, and the price is above the Ichimoku cloud. We have a strong buy signal. Tenkan-Sen and Kijun-sen are following the pair up, both lines are directed upwards. Kijun-sen is horizontal. The Cloud is growing.

The upward movement remains as long as the Kijun-sen is located below the price.

Bollinger bands are directed upwards. The bands are in a lateral movement changing the direction.
MACD histogram is still located in the positive zone, continuing to grow.

Trading recommendations

Buyers are very strong now. We can see it by the increased volumes. The bottom line in the next few days of the trading week is directed upwards. Target level should be considered as mark 1.3800. From this mark a downward pullback happened from 25.10.2013.