11, October 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

Despite the fact that President Obama has put forward Pigeon Yellen, USD and the U.S. securities bonds grew. EUR/USD was being sold and it fell below 1.3522. We may see a strong selling soon.

It is a good time to return to longs. The first bulls target is 1.3550, then 1.3647 (maximum of 3 October), and 1.3710 (2013 high).

During the increase along Tenkan -sen euro hit a resistance level 1.3640. Then the price jumped down, forming a "bearish " candle, which reached the Tenkan -Sen and began to break it down. Should the price go down the next support level is 1.3480.

Kijun -Sen and Tenkan -Sen are crossed in a "golden cross." The both lines are turning horizontally and parallel to each other.

The market is in a "bullish parade of lines". The fact that the price is above the cloud confirms the upward movement of the market.

«MACD» is in the positive area, its histogram is above the signal line and growing.
Bollinger bands are turning down.

Trading recommendations

The price is being consolidated now. If the price continues falling it will go to 1.3416. The middle goal is 1.3450.