EUR/USD (a 4-hour chart)
We expect the August Germany and France consumer price index final assessment publication, still no one waits for changes - 0.0% m/m, +0.8% y/y and 0.3% m/m, 0.3% y/y, respectively, that will not activate the market, unless we get unexpected news.
The resistance level of 1.2935 retest was followed by the short-term consolidation. After that, there was the price bounce down amid the high volume. Then the pair came back to the level of 1.2930.
The price is finding the first support at 1.2930, the next one is at 1.2850. The price is finding the first resistance at 1.3000, the next one is at 1.3070.
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 horizontal movement. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is consolidating.
The downward movement potential target is 1.2850. If the price grows it will get to 1.3000.