EUR/USD (a 4-hour chart)
The euro is declining lower and lower and at the current time there are no factors that can change the negative trend. The oil quotations decrease sent the Germany10-year bond yields to the fresh historic low that intensifies the Old World deflationary expectations.
There is a significant difference in the ECB and the Fed monetary policy which makes dollar a winner within the pair.
The price reduction takes place at the increased level that signals towards the increased interest in sales.
The price is finding the support at 1.0420. The price is finding the first resistance at 1.0550 the next one is at 1.0670.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is falling.
The downward movement will be continued. The pair may go to 1.0420 soon.