17, December 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The euro decreased against the dollar by the end of the trades. Earlier the pair EUR/USD was advancing north amid the dollar weakness and the European stock indexes decline. Besides the risk appetite return and the dollar purchases resumption the US strong statistics pressured the prices that confirmed the prerequisites for the first Fed rate hike nearly for a decade.

The price is finding the first support at 1.0800, the next one is 1.0730. The price is finding the first resistance at 1.0925, the next one is at 1.1050.

The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement.

The MACD indicator is in a neutral territory. The price is correcting.

Trading recommendations

The price is likely to go downward to the support level of 1.0800 and 1.0730.