16, August 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

Euro zone is pulled out after a record 18-month recession. GDP grew by 0.3% in the second quarter of 2013, slightly above expectations, the agency "Eurostat" said. However, France has grown stronger-than-expected increasing by 0.5%.

EUR / USD has just broken the resistance, rising more than 40 points on triggering of stop orders associated with the purchase. The upward movement will be continue if the resistance at 1.3414 is broken, experts say.

The price is fixed below the critical line, and formed a new "dead cross". The current sell signal is not confirmed and weak, as Chinkou Span is below the price, and the price has just broken the Ichimoku cloud.

Bollinger bands show the beginning of a downward movement, the bands widen and directed slightly downward.
MACD is directed down, indicating the current downtrend.

Trading recommendations

It is likely that the price will try again to go up to 1.3300 - 1.3310 and test it for strength.
If there is a rebound from the level bearish trend will continue with a target - the support level is 1.3235. Break above 1.3235 will open the way to 1.3170.