EUR/USD (a 4-hour chart)
The euro is going down, after reaching a maximum 1.3112. Euro remains under pressure due to the problems with Cyprus. According to European Commission estimates Cyprus is in need of assistance in the amount of € 23 billion instead of the 17 billion as it was planned. The situation is difficult in the country and the president decided to ask the European Union to change its policy toward Cyprus and to consider allocating additional funds to rescue the banking system.
The country's authorities are willing to sell gold reserves in the amount of 400 million Euros to raise funds and to restructure Laiki Bank.
The euro is trading below 1.3100. It is clear that the uncertainty with Cyprus will only benefit the bears.
The Tenkan-Sen line is above the Kijun-Sen. The Tenkan-Sen and Kijun-Sen are directed downwards. The Cloud is still rising.
Bollinger lines begin to unfold following the price.
MACD is prepared to give a sell signal. The histogram is directed downward, but the indicator is still showing a buy signal.
The signal to buy proven, but weak.
Open long positions will be possible after the price passing 1.3130.
An alternative may be a sale from the level 1.3027.
Place a stop loss above the Kijun-sen in the case of a southern movement and below the Kijun-sen, in the case of a north one, respectively. As the price moves we move and stop level after it.
When you open positions consider the fundamental analysis and the time economical news is released.