13, May 2016

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The Eurozone published Industrial Production for March (-0,8% vs. expectations 0,1%). The 10-year government bonds yield in Germany grew which played into the hands of the euro bulls.

The first support lies at 1.1350 and then at 1.1260. The first resistance stands at 1.1450, the next one is at 1.1550.

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

The MACD indicator is in a negative territory. The price is decreasing.

Trading recommendations

The pair can grow to the resistance level of 1.1450. After breaking 1.1450 the buyers may go to 1.1550.