EUR/USD (a 4-hour chart)
The euro continued its losses against the dollar. The single currency sales were as active as the day before, and it may indicate that investors "got a taste" of the mitigation policies adopted by the ECB last week, causing a clear difference in the European Central Bank and the Federal Reserve monetary policy. Besides that the pressure on the single currency is supported by the ECB continued statements that there is the scope for further the key interest rates reduction and the European regulator is ready to begin to quantitative easing.
The bounce from the strong resistance level 1.3590, which has acted as a support for a long period, was not supported by the trade volumes. The price decrease reached the last week retest maximum at the support level 1.3500.
There is a confirmed and strong sell signal. The price is below the Cloud and it is under the Chinkou Span. The downtrend movement will be until the price is below the Kijun-Sen. The Kijun-Sen is directed horizontally. The Cloud is descending.
The price is finding the first support at 1.3520, the next one is at 1.3480. The price is finding the first resistance at 1.3570, the next one is at 1.3610.
The MACD indicator is in a negative territory. The histogram is descending.
The bounce up can start either from the support 1.3500 or 1.3490, serving as the descending channel lower boundary. The potential growth target will be the strong resistance level 1.3590. The falling can reach 1.3480.