14, April 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The European currency has steadily strengthened versus the dollar at the Fridays' session. Obviously, the euro continues being supported by the Fed minutes, hinted at even long “pigeon” period in the U.S. Central Bank politics, as well as, its central bank indecision, whose representatives only declare their readiness to take measures to stimulate the economy, but the real action did not pass by.

The support is 1.3860. The resistance is 1.3900.

There is a confirmed and strong buy signal. The price is above the Cloud and it is above the Chinkou Span now. The upward movement will be until the price is above the Cloud. The Tenkan-Sen is crossing the Tenkan-Sen upwards forming a golden cross. The cloud is uprising.

The MACD shows a growth.

Trading recommendations

The short term corrective pullback down is possible. The potential target for the rollback would be 1.3860.

The main rebound target is the 1.3900 resistance level.