12, June 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

EUR/USD got under the pressure after a NFP exceeded forecasts in May.
Still NFP could not affect the predictions about the possible time of the softening program closing.

The euro is likely to resume its downward trend against the dollar over the next 12 months after the wavering during April and May, according to a Reuters poll 60 Foreign currency exchange strategists and economists.

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

The euro/dollar due to cross-rate EURGBP strengthened its positions to 1.3298. The target is almost reached. Still there are risks that bulls will open the hunt for stops above 1.33. It will be easy if we do not get any news.

To break through the bulls need the turn up of the gold and AUDUSD.