EUR/USD (a 4-hour chart)
No important news were published on Monday. Most European markets were closed to celebrate the Day of the Holy Spirit. In the Bonds Market the 10-year government bonds yield in Germany declined which reduced the attractiveness of the European assets.
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 “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 decreasing.
The potential decrease targets are two levels of support: 1.1260 and 1.1150.