11, July 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

Analysis of the Forex market for July 11th shows that the price is in the upward trend now. The current buy signal is strong and confirmed as Chinkou span is above the price and the price is above the Ichimoku cloud.

The price corrected back to 1.3140 yesterday. The upward movement will be continued as long as the price is below the Kijun-Sen.

Chinkou Span is above the price that is a confirmation of the current buy signal. The Kijun-Sen and Tenkan-Sen are directed upwards. The Cloud has an upward formation.

Bollinger Bands indicator shows an upward movement, its bands are broadening.
MACD is in a positive area, indicating the current upward movement. The histogram is growing.

Trading Recommendations

This sudden growth has opened the way to 1.3415. The range 1.3030-1.3075 will probably become a support area. The consolidation is expected in the area ​​1.3080. The pair will return to galling after passing 1.3030-1.3075.