11, June 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The number of job vacancies in the U.S. continues to grow, but in order to achieve the planned unemployed level 6.5% the growth should be more intense.

Only Germany can compete with the USA on stability of the national economy. The first remains an advanced economy in the region and still survives well due to high domestic demand, which, unfortunately, is not true for other European countries.

The price is above the Chinkou-span, we have a strong and confirmed buy signal. EUR/USD is being traded above the Ichimoku cloud. The pair is above the Kijun and Tenkan, the Ichimoku cloud is directed upward.

Tenkan-sen is directed upwards, Kijun-Sen is horizontal.

Bollinger Bands are broadening
MACD is now in positive area, the indicator started to go down.

Trading recommendations

Unsuccessful attempts to get back above 1.3230 give us a reason to expect a short-term testing of 1.3090.

The break below 1.3170 threatens to fall to 1.3150 and 1.3120/00, where the pair can stabilize.

The return of the pair below 1.3150 would be an indication of bullish trend weakening. The return to an upward movement can be only after growing to 1.3340 and consolidating above it.