14, September 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The world leading markets instability influences to the single European currency. The world leading stock indicators do not show a steady upward trend. Last week the European stock indicators decreased more than by 1%. The US indicators showed a growth on the contrary. The high-tech sector was in leaders which traditionally indicates the demand for the “risky assets".

The euro/dollar is growing. The pair rebounded upwards from the support level of 1.1260 and the resistance level of 1.1325 break through.

The price is finding the first support at 1.1325, the next one is 1.1260. The price is finding the first resistance at 1.1410, the next one is at 1.1530.

There is a confirmed and a weak buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement. The upward movement will be until the price is above the Cloud.

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

Trading recommendations

The pair can grow to the resistance level of 1.1410. After breaking 1.1410 the buyers may go to 1.1530 and then towards to the level of 1.1590.