12, October 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The US and the Germany government bond yields grew at the end of the last week which increased the investments’ attractiveness into the US assets and contributed to the dollar demand. The “bullish” sentiment prevailed in the European and North American stock markets which is also a positive factor for the US dollar. International investors are still inclined to the "risk appetite" which puts pressure on the euro as a funding currency.

The price continued its upward movement.

The price is finding the first support at 1.1325, the next one is 1.1260. The resistance is at the level of 1.1410.

We have a confirmed and a strong buy signal. The price is above the Cloud now and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen are directed upwards. The EUR/USD will grow until it is above the Cloud.

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

Trading recommendations

The pair is growing, the target is the level of 1.1410 now.