11, February 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

In the absence important macroeconomic statistics traders shall focus their attention on the bond market dynamics. Yesterday we observed the US and Germany 10-year bond yields, which is a bearish factor for the euro.

The price consolidated inside the "rectangle" near the levels of 1.1385 - 1.1275. The downward trend potential is preserved.

The price is finding the first support at 1.1300, the next one is at 1.1170. The price is finding the first resistance at 1.1400, the next one is at 1.1520.

The price is in the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement.

The MACD indicator is in a negative territory. The price is consolidating.

Trading recommendations

The sellers need to break below 1.1300 for a steady growth. The way to the mark 1.1170 will be opened after this breakthrough.