15, January 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

Attitude to the euro / dollar in yesterday's trading was generally neutral. In the absence of important news from the EU, the instrument traded in a narrow range and closed the session on the opening prices. Obviously, doubt about the accuracy of Non stop payrolls stopped "bulls" and the absence of any other catalysts to maintain directional activity provoked "trampling " on the spot.

The pair could return above the range of support 1.3590-1.3635, that increased greatly the probability of the new growth formation with the aim of fixing above the resistance 1.3830 and testing the level 1.4000.

We have a southern movement. The sell signal is confirmed and weak. The price is in the cloud and above the Chinkou Span.

The downward movement will be until the Kijun-Sen is above the price. Kijun-Sen is horizontal and Tenkan Sen are directed upwards.

Bollinger Bands are turning up.
MACD is in a positive area, the histogram is growing.

Trading recommendations

If the pair fells below the support 1.3550-1.3640 its prospects can worsen, that opens the road to a gradual decrease of 200-day SMA, the support level 1.3295 or 1.3100. The trend change can happen from any of the mentioned marks.

1.3740 is the first target for the growth.
Alternative variant is 1.3540 if the pair goes down.