EUR/USD (a 4-hour chart)
The FED will hold its regular meeting on the monetary policy in late April. The more positive releases we get, the more chances we have that the monetary authorities will seriously talk about the rising interest rates in the medium term. On the other hand, the Eurozone revealed Industrial Production report which came out worse than expected: -0.8% m/m vs. the forecast of -0.7% m/m. Patrick Harker (the Philadelphia Fed Governor) did not exclude that the rates would be raised three times this year.
The first support lies at 1.1260 and then at 1.1150. The first resistance stands at 1.1350, the next one is at 1.1450.
There is a non-confirmed and a weak sell signal. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a neutral territory. The price is decreasing.
We expect the 1.1260 line break that will open the way for the sellers to 1.1150.