17, April 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The euro declined versus the dollar, which could be the balance moods consequence, caused by M. Draghi's statements and other the ECB members' concerns about the euro high rate, as well as multi-directional results indicators, the publication issued to EU statistics. However, the reports from the United States helped to neutralize the euro losses and to close trading at nearly opening prices. The Euro zone economic news was not enough, and the most significant was the ZEW institute report for April.

The first support is 1.3800, the next is 1.3760. The first resistance is 1.3860, the next is 1.3900.

There is a confirmed and strong buy signal. The price is above the Cloud and it is above the Chinkou Span now. The upward movement will be until the price is above the Cloud. The Tenkan-Sen is crossing the Kijun-Sen down. The cloud is uprising.

The MACD shows a decrease.

Trading recommendations

1.3800 is a key mark between the buyers and the sellers.

The rebound from 1.3800 would lead to a euro growth versus the dollar with the targets: 1.3860 , 1.3900.