18, September 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The US Federal Reserve monetary policy two-day meeting results was the main event of the day. The August Eurozone revised inflation data were published yesterday. The report recorded the index output into the negative territory. This factor is negative for the euro as the deflation threat may again rise rumors about the ECB possible program expansion.

After a short-term consolidation the pair euro/dollar sharply grew and tested the resistance level of 1.1410.

The price is finding the first support at 1.1260, the next one is 1.1150. The price is finding the first resistance at 1.1325, the next one is at 1.1410.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is increasing.

Trading recommendations

The potential growth targets are the resistance levels: 1.1530, 1.1590.