13, September 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

EUR/USD had a chance to recover. ECB Monthly Report and industrial production should guide the pair. Today, trading activity may be due to the ECB data (economic and business conditions), and industrial production in the euro area. If the news meet or exceed expectations, we can see a continuation of the recent positive trends in the EUR/USD.

According to the Ichimoku analysis the pair is located in the medium uptrend. The pair is growing on the 4 hour time-frame. The EUR/USD broke the Ichimoku cloud up. Tenkan -Sen and Kijun -Sen are directed upwards. Tenkan -sen is below the price. The cloud is directed up.

Bollinger bands are directed up broadening.
The MACD histogram has left a negative zone and growing.

Trading recommendations

We recommend to open long positions on the level 1.3117 with a take-profit at the level of 1.3390.