11, April 2016

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The 10-year government bonds yield in Germany grew which increased the attractiveness of the European assets. German exports increased by 1.3% after falling by 0.6 percent in January. At the same time, import growth slowed in Germany to 0.4% from 1.3% a month earlier.

The first support lies at 1.1350 and then at 1.1260. The first resistance stands at 1.1450, the next one is at 1.1550.

There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen showы a downward movement and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is growing.

Trading recommendations

We expect the 1.1450 line break that will open the way for the buyers to 1.1550.