18, December 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

As we expected the published statistics remained without any traders’ attention. The PMI euro zone preliminary estimates pointed out to the regional solid growth. In particular, the Germany manufacturing sector business activity index has risen to 53 while the same regional index rose up to 53.1. The services sector indicators did not meet our expectations, however, it has shown a good result, having remained above the critical level of 50.

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 horizontal movement.

The MACD indicator is in a negative territory. The price is decreasing.

Trading recommendations

After the support level of 1.0730 breakthrough down the way to the support 1.0630 will be opened.