14, December 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The pair mainly focused on the stock markets dynamics amid the Eurozone empty economic calendar. Not only the technical factors put pressure on the euro, but also the ECB representatives’ soft statements. In particular, Liikanen said that the central bank plands to keep the QE program, Yves Mersch hinted that the regulator was ready to use all available instruments in the framework of incentives.

The price is finding the first support at 1.0925, the next one is 1.0800. The price is finding the first resistance at 1.1050, the next one is at 1.1150.

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

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

Trading recommendations

The potential decrease targets are two levels of support: 1.0925 and 1.0800.