12, June 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The traders' attention was focused on the US statistics. The May retail sales report will determine the US consumer activity on the eve of the US Federal Reserve meeting on the 17 of June. Leading indicators point out to the positive data output. The May retail sales report showed a growth by 1.2%.

There was a false resistance level of 1.1260 breakthrough that is a good signal towards the downward trend continuation.

The price is finding the first support at 1.1150, the next one is 1.1050. The price is finding the first resistance at 1.1260, the next one is at 1.1450.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement. The upward movement will be until the price is above the Cloud.

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

Trading recommendations

The buyers need to break above 1.1260 for a steady growth. The way to the marks 1.1450, 1.1675 will be opened after this breakthrough.