15, April 2016

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The aggressive Fed statements as well as China positive export statistics supported the interest in the US currency. At the same time the euro fell amid the positive USA macroeconomic data and the negative statistics of the Eurozone. The Industrial Production in the region fell by 0.8% in February against a growth by 1.9% in January.

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 confirmed and a strong 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 forming a “Dead Cross”. The downward movement will be until the price is under the Cloud.

The MACD indicator is in a negative territory. The price is consolidating.

Trading recommendations

If the price fixates below the support 1.1260, it may continue the downward trend in the short term. The potential target is 1.1150.