15, December 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The euro growth is still regarded as a correction, primarily caused by the European stock markets risk aversion. Meanwhile, economic releases keep the pair indifferent. The Germany inflation publication was in line with the forecasts at the level of +0.1% m/m and +0.4% y/y.

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 shows a horizontal movement and the Kijun-sen shows 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 downward movement will be continued. After the support level of 1.0925 breakthrough down the way to the support 1.0800 will be opened.