11, September 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The "risk appetite" growth among investors put pressure on the euro as a funding currency. The Germany and the US negative government bond yields are increasing that supported the demand for the dollar. Now the other hand, investors are taking a wait and see attitude in anticipation of the Fed meeting. Nevertheless, the euro increased by the end of the trades.

The euro is showing that now the movement strengthened. The euro grew and the resistance leve of 1.1260 was broken through upwards.

The price is finding the first support at 1.1260, the next one is 1.1150. The price is finding the first resistance at 1.1325, the next one is at 1.1410.

The price is in the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows a downward movement and form a “Golden Cross”.

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

Trading recommendations

The pair can grow to the resistance level of 1.1325. After breaking 1.1325 the buyers may go to 1.1410.